India’s trade minister said he had concluded talks with his US counterpart, without indicating whether the two sides had bridged the remaining gaps holding up an interim trade agreement, according to Bloomberg.
“We reviewed progress of the ongoing India–US trade discussions and explored avenues to further deepen our economic partnership,” Commerce and Industry Minister Piyush Goyal said in post on X on Wednesday following talks with US Trade Representative Jamieson Greer.
In a separate statement, India’s trade ministry said both sides are seeking a “balanced” agreement that delivers “tangible benefits for businesses, farmers, workers and consumers in both countries.” The officials discussed enhanced market access, digital trade, supply chain resilience and reduction of non-tariff barriers in the latest round of talks, according to the statement.
The US trade chief traveled to India this week to advance trade negotiations that have dragged on for months. The visit came days after US President Donald Trump met Indian Prime Minister Narendra Modi on the sidelines of the Group of Seven summit in France and said the two sides were “very close” to an agreement.
India’s response has been more muted. Officials have consistently maintained that New Delhi wants to secure a competitive edge over rival nations before signing the pact. India has also sought assurances from Washington that it will not be subjected to Section 301 investigations once a trade agreement is signed.
India and the US announced a trade framework in February that reduced tariffs on Indian goods to 18 per cent from 50 per cent. Days later, however, the US Supreme Court struck down Trump’s sweeping global tariff regime, injecting fresh uncertainty into when the pact would be implemented.
The Office of the US Trade Representative subsequently launched Section 301 investigations into several countries, including India, over concerns ranging from forced labor to excess production capacity. New Delhi wants Washington to terminate the investigations and address the issue within the framework of ongoing trade negotiations and not through unilateral measures.
Greer’s visit marked a “key step” in ongoing efforts to finalize an agreement, according to India’s trade ministry statement. “The two sides expressed confidence that ongoing negotiations will further deepen economic ties,” it added.
