Commerce and Industry Minister Piyush Goyal is in the United States today, September 22, 2025, leading a high-level delegation to advance discussions for a "mutually beneficial" trade agreement between India and the US. The visit underscores India's commitment to strengthening economic ties and enhancing collaboration with the United States under existing and upcoming trade frameworks.
The primary goal of the visit is to accelerate negotiations for the proposed Bilateral Trade Agreement (BTA) and to work towards an early conclusion. The BTA is aimed at boosting economic ties to $500 billion by 2030, a significant increase from the current $191 billion. In February 2025, leaders from both countries directed officials to negotiate the BTA, with plans to conclude the first tranche of the pact by October-November 2025. Five rounds of negotiations have already taken place.
The delegation includes Special Secretary Rajesh Agrawal and other senior officials who will engage with their US counterparts, including officials from the United States Trade Representative (USTR). This visit follows positive discussions held in India on September 16, 2025, between officials from the USTR and their Indian counterparts.
The visit's importance is amplified by recent trade tensions, including the US administration's decision to increase the H-1B visa application fee to $100,000, a move expected to disrupt business continuity for Indian technology firms managing projects in the US. Additionally, previous tariffs imposed by the US on Indian exports and penalties for importing Russian crude add complexity to the ongoing talks.
Despite these challenges, both sides have expressed optimism about the progress of the trade talks. Goyal stated on September 18, 2025, that the discussions are moving in the right direction. The US remained India's largest trading partner for the fourth consecutive year in 2024-25, with bilateral trade valued at USD 131.84 billion, including USD 86.5 billion in exports. The US accounts for approximately 18% of India's total goods exports, 6.22% in imports, and 10.73% in the country's total merchandise trade.
