Piyush Goyal hints India-US may announce trade package

India and the US are likely to announce a trade package during a meeting between President Donald Trump and Prime Minister Narendra Modi later this week, trade minister Piyush Goyal hinted on Monday.

"We are finalising the agreement. Whether president Trump and Prime Minister Modi announces it during their meeting is up to them," he told reporters.

Modi is in the US to attend the “Howdy Modi" event in Houston, Texas. The White House on Sunday said Trump will travel to Texas to attend the event.

India-US bilateral relationship has been strained recently due to a host of trade and economic issues. India's exports to the US in 2017-18 stood at $47.9 billion, while imports were at $26.7 billion.

India imposed retaliatory tariffs on 28 US products, including almonds and apples, starting 5 June, a year after announcing them to counter the increase in steel and aluminium tariffs by the US and withdrawal of duty-free benefits to Indian exporters. Following the move, the US raised the dispute at the World Trade Organization (WTO).

India also raised customs duties on a host of products, including alloy steel and auto parts, in the budget presented on 5 July.