India-U.S. in steady dialogue for commerce pact: Piyush Goyal

“India and the United States (U.S) are in steady dialogue on the proposed bilateral commerce settlement, and all potentialities are there to fulfill the November deadline for concluding the talks,” Commerce and Industry Minister Piyush Goyal mentioned on Tuesday (October 7, 2025).

On the potential for the following spherical of commerce negotiations in a bodily mode, he mentioned each risk exists, however with the U.S. Government at the moment in shutdown mode, it stays to be seen how, the place, and when the following spherical of talks can happen.

“You all know, the U.S. government is currently in shutdown mode. So, keeping that in mind, we’ll have to see how, where, and when the discussions can take place,” he informed the reporters in Doha.

The U.S. Government has stopped working since midnight on October 1, 2025 as Congress did not move a funding Bill. Theoretically, this implies many authorities staff is not going to be paid for now, and repair centres are closed. However, vital operations, equivalent to within the subject of defence and social work, will proceed to operate.

Mr. Goyal is in Doha for a one-day official go to. He is main a enterprise delegation and discussing methods to spice up commerce and funding ties between the 2 international locations. “We are in constant dialogue with the U.S. (on the trade pact), and talks are on at various levels. We will give more information on this soon on how we are thinking to take it forward,” he mentioned.

When requested if the 2 sides are sticking to the November deadline to conclude the negotiations, he mentioned: “There is every possibility.” Last month, the Minister led an official delegation to New York for commerce talks. After that assembly, India and the U.S. determined to proceed negotiations for an early conclusion of a mutually useful bilateral commerce settlement. Both sides held constructive conferences on numerous elements of the commerce deal.

During the go to, the Minister held conferences with United States Trade Representative (USTR) Jamieson Greer and U.S. Ambassador-designate to India Sergio Gor.

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Those deliberations had been vital as they happened after the U.S. imposed a 25% reciprocal tariff and a further 25% penalty on Indian items coming into the American marketplace for buying Russian crude oil. At current, a complete of fifty% extra import responsibility is imposed on Indian items.

In February this yr, leaders of the 2 international locations directed officers to barter a proposed Bilateral Trade Agreement (BTA).

It was deliberate to conclude the primary tranche of the pact by the autumn (October-November) of 2025. So far, 5 rounds of negotiations have been held. The pact goals to greater than double the bilateral commerce to $500 billion by 2030 from the present $191 billion.

The U.S. remained India’s largest buying and selling companion for the fourth consecutive yr in 2024-25, with bilateral commerce valued at $131.84 billion ($86.5 billion exports). The U.S. accounts for about 18% of India’s complete items exports, 6.22% in imports and 10.73% within the nation’s complete merchandise commerce.