India, US inch toward $500 billion trade target

Business Oct 18, 2025

India and the US are working toward a major trade agreement, hoping to almost triple their trade from $191 billion now to $500 billion by 2030.
Commerce Minister Piyush Goyal says protecting local farmers, fishermen, and small businesses is a top priority as talks continue.

Negotiations are tough

The main roadblock: the US wants India to slash tariffs on American goods, but India's pushing for fair terms that help its own exports stay competitive.
At the same time, India's juggling global relationships—like cutting energy imports from Russia—which could influence the dynamics of the negotiations.
The outcome has the potential to impact jobs and prices here significantly.