India, US Likely to Hold Next Round of Trade Talks in June: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said a US trade team is likely to visit India next month for discussions on the proposed Bilateral Trade Agreement (BTA), as per PTI news reports.  

The talks are expected to continue negotiations around an interim trade arrangement being worked out by both countries. The statement comes after Indian officials visited Washington DC in April for meetings with US counterparts.  

The discussions were held to take forward the proposed trade pact and review pending issues under the broader agreement. 

Rubio to Visit India from May 23 

US Secretary of State Marco Rubio is scheduled to arrive in India on May 23 for a 4-day visit. Trade, defence and energy cooperation are expected to be discussed during the visit. 

Replying to questions on whether the chief US trade negotiator would travel with Mr Rubio, Mr Goyal said the official would not be part of the visit. He added that there is a separate plan for the trade delegation to come to India next month. 

Tariff Measures Under Discussion 

India and the US had issued a joint statement on February 7 outlining a framework for an interim trade agreement. Since then, trade discussions have also included recent tariff-related measures announced by the US administration. 

A US Supreme Court ruling had struck down reciprocal tariffs introduced earlier as part of trade negotiations. Following the order, the US imposed an additional 10% duty on imports under Section 122 of the Trade Act for 150 days from February 24. 

The US has also started 2 investigations under Section 301 related to production capacities and labour standards among exporting countries. India has submitted responses to both investigations, and consultations between the 2 sides are continuing. 

Investment Plans Highlighted 

Speaking at an industry event in New Delhi, Mr Goyal said investment commitments announced by American companies in India during the last 6 months could exceed $60 billion. He referred to proposed data centre investments by Amazon and Google. 

He said India and the US are also discussing cooperation in sectors such as digital infrastructure, medical devices and supply chains. 

Read More: India Challenges UK Steel Import Restrictions at WTO with Japan and China! 

Conclusion  

The proposed visit by the US trade delegation comes as India and the US continue consultations on trade-related issues, including tariffs, investments and sector-specific cooperation under the bilateral agreement framework. 

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