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Indian and American officials have made significant progress in their ongoing negotiations toward a bilateral trade deal following several days of talks in New Delhi this week, Reuters reported Saturday, citing confirmation from both sides. The discussions, which took place from March 26 to 29, were led by the Ministry of Commerce and Industry and a US trade delegation headed by Brendan Lynch, the assistant US trade representative for South and Central Asia.
The talks came as US President Donald Trump prepares to impose reciprocal tariffs on multiple trading partners starting April 2. Both India and the US are hoping to ink the first phase of the trade deal by the fall of this year.
A joint statement issued after the talks highlighted that the negotiations are a step forward in expanding bilateral trade and investment relations between the two nations.
The trade talks follow a series of commitments made during Prime Minister Narendra Modi’s visit to Washington last month. During that visit, New Delhi pledged to increase its purchases of US energy products and defense equipment, with both countries also setting an ambitious goal to reach $500 billion in bilateral trade by 2030, the report stated.
However, with Trump voicing his criticism of India’s tariffs, calling the country a “tariff king,” the US has been pressing India to reduce tariffs on a wide range of products, including agricultural goods, alcoholic beverages, and automobiles, while also seeking greater market access for American companies.
Commerce and Industry Minister Piyush Goyal visited Washington earlier this month for talks with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick to continue discussions on the trade deal.
According to the report, the two sides plan to begin sector-specific expert engagements for the trade agreement virtually in the coming weeks.
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