Union Minister Piyush Goyal on Thursday indicated that the first tranche of a trade agreement with the United States is expected to be finalised by November 2025.
Speaking at a news conference in Patna, Goyal said the directive came from Prime Minister Narendra Modi and US President Donald Trump in February 2025, instructing ministers from both sides to work toward a successful agreement. He added that discussions have been ongoing since March in a “very good environment,” and both nations are satisfied with the progress so far.
Earlier, President Trump, in a post on Truth Social, noted that India and the US are continuing negotiations to address trade barriers. He expressed optimism about a successful outcome, emphasizing the “very special relationship” between the two countries.
Prime Minister Modi endorsed Trump’s remarks, stating that the trade talks would help “unlock the limitless potential” of India-US partnership. In a post on X, Modi highlighted the countries’ close friendship and said, “I am confident that our trade negotiations will pave the way for unlocking the limitless potential of the India-US partnership… We will work together to secure a brighter, more prosperous future for both our people.”
The talks come amid heightened economic tensions, following the US imposition of a 50% tariff on Indian imports, including an additional 25% related to India’s purchase of Russian crude, which Washington says fuels Moscow’s efforts in the Ukraine conflict.
