Goyal likely to visit Washington in next few days for trade talks: Report

With India-US trade negotiations gaining momentum, Commerce and Industry Minister Piyush Goyal is likely to visit Washington in the next few days, according to a PTI report, citing sources.

The expected visit follows a full day of discussions in New Delhi between US Chief Negotiator Brendan Lynch and Indian negotiator Rajesh Agrawal on the proposed Bilateral Trade Agreement (BTA). The talks were seen as a significant step forward in advancing the deal.

“The commerce minister’s visit is likely soon… may be in the next few days… for the trade talks,” PTI quoted sources as saying.

India and the United States have agreed to accelerate efforts toward finalising a Bilateral Trade Agreement (BTA), following daylong negotiations held in New Delhi on September 16. The Ministry of Commerce described the discussions with the visiting US delegation as “positive,” with both sides committing to a mutually beneficial outcome.

“It was decided to intensify efforts to achieve early conclusion of a mutually beneficial trade agreement,” the ministry said in a statement issued after the seven-hour-long meeting with US officials.

The talks carry added significance as they come against the backdrop of the United States imposing steep tariffs on Indian exports—first a 25 per cent duty, followed by an additional 25 per cent penalty linked to India’s purchase of Russian crude oil. These measures have effectively raised the tariff burden on Indian goods to 50 per cent.

The visit by the high-level US trade team was the first since the penalty tariffs were introduced. In February this year, leaders from both nations had instructed their trade officials to begin formal negotiations on the BTA.

The two sides had initially aimed to finalise the first tranche of the deal by the fall of 2025 (October-November), and five rounds of negotiations have taken place so far. The overarching goal is to expand bilateral trade to USD 500 billion by 2030, up from the current USD 191 billion.

Commerce and Industry Minister Piyush Goyal had earlier travelled to Washington in May to advance the negotiations. During his visit, he held meetings with US Commerce Secretary Howard Lutnick.

The United States continues to be India’s largest trading partner for the fourth consecutive year in 2024-25, with total bilateral trade reaching USD 131.84 billion — of which USD 86.5 billion constituted Indian exports.

Currently, the US accounts for around 18 per cent of India’s total goods exports, 6.22 per cent of imports, and approximately 10.73 per cent of India’s overall merchandise trade.

With inputs form agencies