Piyush Goyal, US Commerce Secretary Hold Talks to Fast-Track India-US Trade Deal

By siliconindia  |  Tuesday, 20 May 2025, 10:01:34 AM IST

Piyush Goyal, US Commerce Secretary Hold Talks to Fast-Track India-US Trade Deal
  • Commerce Minister Piyush Goyal and US Commerce Secretary Howard Lutnick held talks on May 19 to speed up the first tranche of the India-US Bilateral Trade Agreement (BTA).
  • Goyal described the meeting as 'good discussions' on X.
  • Goyal, India’s Chief Negotiator Rajesh Agarwal, and a large Indian delegation have been in the US since May 17 for trade deal negotiations.
Commerce and Industry Minister Piyush Goyal held crucial discussions with US Secretary of Commerce Howard Lutnick on May 19 to expedite the first tranche of the India-US Bilateral Trade Agreement (BTA). The meeting is part of broader efforts to scale up bilateral trade under 'Mission 500', which aims to more than double trade to $500 billion by 2030.
Goyal, who has been in the US since May 17 along with India’s Chief Negotiator Rajesh Agarwal and a large team of officials, described the talks as 'good discussions' in a post on X. The current round of negotiations aims to firm up a scaled-down version of the BTA within the next 45 days, although finalisation of the first tranche is expected by September or October.
The two sides are currently discussing sectoral specifics, with India offering zero-to-zero tariffs on industrial goods, while seeking safeguards for sensitive sectors like agriculture and dairy.
This round of talks comes in the backdrop of US President Donald Trump’s recent comment on May 15, stating that India has “offered us a deal where basically they are willing to literally charge us no tariff”, However, Indian officials have been cautious. External Affairs Minister S. Jaishankar responded the same day, noting that the negotiations remain complex and far from being finalised.
The India-US trade talks are viewed as a pivotal step toward strengthening bilateral economic ties and enhancing cooperation in sectors such as manufacturing, services, and technology. The ongoing discussions mark a significant shift in India’s trade diplomacy, focused on securing mutual benefits while protecting key domestic interests.

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