India Trade Minister Piyush Goyal to Lead Team to the US for Trade Talks

Commerce and Industry Minister Piyush Goyal will travel to the United States from May 17 to 20, 2025, leading a government delegation to continue discussions on a proposed bilateral trade agreement between India and the U.S., according to news reports.

The visit comes at a time when India is looking to finalise a trade pact during a 90-day pause on new U.S. tariffs, announced by President Donald Trump on April 9. The pause includes a potential 26% tariff on India, while a 10% base tariff remains in place for now.

Reports suggest that India’s chief trade negotiator, Rajesh Agrawal, and other senior officials from the commerce ministry will accompany Goyal. Meetings are scheduled with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick. These engagements follow earlier rounds of talks held in New Delhi in March and in Washington from April 23 to 25.

Focus on Trade Pact

The talks are aimed at making progress on the first tranche of a broader bilateral trade agreement. The terms of reference for the proposed agreement have been finalised, covering around 19 chapters. These include goods, services, customs procedures, rules of origin, tariff reductions, and non-tariff barriers.

Trade and Tariff Context

In 2024, bilateral trade between India and the United States stood at approximately $129 billion. India currently maintains a trade surplus of $45.7 billion with the US. The United States is India’s largest trading partner.

The proposed trade agreement is part of a plan to expand India-U.S. trade to $500 billion by 2030. This goal was discussed during Prime Minister Narendra Modi’s visit to the U.S. earlier this year.

Read more: India Offers Zero Tariff on Most Products in US Trade Talks, Piyush Goyal’s Visit Likely Soon

Other Global Developments

Goyal’s visit also coincides with renewed trade talks between the U.S. and China. Both countries have agreed to reduce tariffs by 115 percentage points each. This development could impact India’s position in global supply chains.

Conclusion

The upcoming meetings in Washington are part of ongoing plans to resolve trade issues and advance negotiations within the temporary tariff pause period.

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