India, US work on new trade deal amid tariff row

Business Oct 18, 2025

India and the US are working on a new trade deal, hoping to double their trade to $500 billion by 2030.
Talks have been ongoing, with high US tariffs—50% on Indian goods and an extra 25% on some imports tied to India's Russian oil purchases—remaining a key point of contention.

US is India's biggest trading partner

The US is India's biggest trading partner. But these high tariffs have already caused Indian exports to the US to drop.
Commerce Minister Piyush Goyal says no deal will be signed unless Indian farmers, fishermen, and small businesses are protected.
The outcome could reshape how India balances its global partnerships and economic priorities.