US-India trade deal talks begin in New Delhi
What's the story
United States Trade Representative Jamieson Greer arrived at Vanijya Bhawan on Monday to meet Union Commerce Minister Piyush Goyal in New Delhi on Tuesday. Greer was joined by Ambassador to India Sergio Gor. The two-day talks will focus on an interim deal and the first phase of the Bilateral Trade Agreement (BTA) between India and the United States. The discussions were initiated by President Donald Trump and Prime Minister Narendra Modi on February 13, 2025.
Trade negotiations
US's temporary 10% tariff on trading partners due to expire
The meeting comes after chief negotiator-level discussions on the pact held earlier this month. Goyal said that India is seeking a competitive edge for its exporters over rival nations in the proposed trade agreement with the US. Goyal said he would be "happy" if a deal were finalized before July 24, when the US's temporary 10% tariff on trading partners is due to expire.
Trade overview
Trade is one element of our partnership: Goyal
"My interest is that it should get completed...if I can get a competitive advantage over my other competing nations, neighbors, our northern neighbor China... Whether it is the Asean countries, Vietnam, Indonesia, countries with whom we are in direct competition," Goyal said. "The faster the better because we can start exporting more goods to the US. But bear in mind both the US and India have a very deep strategic partnership. Trade is one element of our partnership," he added.
Diplomatic engagement
Greer's visit follows Modi-Trump meeting at G7 summit
Greer's visit comes after a meeting between Prime Minister Modi and President Trump at the G7 summit in Evian, France. The Office of the USTR said Greer will travel to New Delhi to meet Goyal and other senior Indian officials to discuss the "historic US-India joint statement and the interim agreement as part of the broader US-India bilateral trade agreement negotiations" for achieving "fair, balanced and reciprocal trade with the US."
Pact progress
Interim bilateral trade agreement in final stages
Indian Foreign Secretary Vikram Misri had said last week that the interim bilateral trade pact was in its final stages. He emphasized Ambassador Greer's visit to New Delhi would be crucial in driving trade discussions forward. Commerce Secretary Rajesh Agrawal also said talks between the two ministers will focus on finalizing the framework deal.