India-US trade talks: Negotiating team in America, trying to have ‘win-win solution,’ say sources
Sources in the government said on Wednesday (October 15) that a negotiating team is in the US to have trade and tariff-related talks.
In a major update related to the India-US trade talks, sources in the government said on Wednesday (October 15) that a negotiating team is currently in the US, trying to find a "win-win solution" for both sides.
Sources told news agency ANI, “Engagement between the two sides is going on.”
They informed that the ambassador-designate was in India, and he met with all the stakeholders and had good meetings.
Meanwhile, a “negotiating team from India is in the US. They are trying to see if we can have a win-win solution between the two sides,” sources said.
“Discussion is on the table. We are in a deeper discussion. We have seen export growth to the US, and it may continue,” sources added.
Commerce Secretary Rajesh Agrawal to visit US
Commerce Secretary Rajesh Agrawal will join the Indian delegation in the US on Thursday, October 16, for trade talks, PTI reported. The report claimed that India has indicated its readiness to step up energy imports from America.
In the past seven to eight years, energy purchases from the US, largely crude oil, have come down from $25 billion to around $12-13 billion.
"So, there is a headroom of around $12-15 billion, which we can purchase without worrying about the configuration of refineries," Agrawal told reporters in Delhi on Wednesday.
"And there is a bilateral commitment, and in discussions we are in, we have indicated very positively that India as a country would like to diversify its portfolio as far as energy imports are concerned. That's the best strategy for a big buyer like India," Agrawal was quoted as saying.
‘Good progress’ on India-US trade talks
On October 9, Prime Minister Narendra Modi spoke with United States President Donald Trump to congratulate him on the Gaza peace plan that was agreed upon by both Israel and Hamas to cease war and exchange prisoners.
During the conversation, PM Modi said the two leaders also reviewed ongoing trade negotiations, noting “good progress” despite the 50 per cent tariffs that Donald Trump imposed on Indian imports.
India-US tariff
This year, US President Donald Trump's administration imposed a steep 50 percent tariff on Indian exports, alongside the tightening of immigration policies.
India and the US are sticking to a fall 2025 deadline for the first part of a trade deal between the two countries, an Indian government official with knowledge of the matter was quoted by Reuters as saying on Monday.
India-US talks are happening at different levels, covering both trade and non-trade issues. So far, five rounds of negotiations have been completed.
Last month, Commerce and Industry Minister Piyush Goyal led an official delegation to New York for trade talks.
After that meeting, India and the US decided to continue negotiations for an early conclusion of a mutually beneficial bilateral trade agreement, news agency PTI reported.
During the visit, the minister held meetings with United States Trade Representative (USTR) Jamieson Greer and US Ambassador-designate to India Sergio Gor.
Earlier, discussions were also held between US Chief Negotiator Brendan Lynch and his Indian counterpart Rajesh Agrawal on the proposed bilateral trade agreement.
The US remained India's largest trading partner for the fourth consecutive year in 2024-25, with bilateral trade valued at $131.84 billion (USD 86.5 billion exports).
The US accounts for about 18 per cent of India's total goods exports, 6.22 per cent in imports, and 10.73 per cent in the country's total merchandise trade.