India-US Trade Talks: Paving the Path to a Strategic Accord

US officials are set to visit India for talks on a potential interim trade agreement. Discussions aim to secure a deal before July 9, seeking to reduce tariffs. India's Commerce and Industry Minister Piyush Goyal is involved in negotiations. The trade partnership, valued at $131.84 billion, remains crucial.

US officials are poised to visit India soon for discussions on an interim trade agreement between the two nations, with sources indicating an accelerating pace in negotiations.

The focus is on finalizing a deal by July 9, eliminating a 26% reciprocal tariff imposed on domestic goods, and ensuring India's exemption. During a recent visit to Washington, Commerce and Industry Minister Piyush Goyal engaged with US Commerce Secretary Howard Lutnick to advance the trade talks.

The bilateral trade, valued at $131.84 billion in 2024-25, highlights the US as India's largest trading partner for four consecutive years. Despite a significant trade surplus in India's favor, both countries are eager to more than double their trade volume to $500 billion by 2030.

(With inputs from agencies.)