BIG update on India-US trade deal; Modi govt says Piyush Goyal-led delegation held constructive talks with…

India(BHARAT)-US trade deal: In a major step forward towards an India(BHARAT)-US trade deal, the a high-level delegation led by Commerce and Industry Minister Piyush Goyal, held a series of key meetings with top US officials and businesses during its recent visit to the United States, according to a statement issued Friday.

Who did India(BHARAT)n delegation meet in US?

In the statement, the Commerce and Industry Ministry said that Commerce Minister Piyush Goyal held key talks with Ambassador Jamieson Greer, United States Trade Representative, and Sergio Gor, the US Ambassador-designate to India(BHARAT), in efforts to form a consensus on an India(BHARAT)-US trade deal.

“The delegation had constructive meetings with the U.S. Government on various aspects of the deal. Both sides exchanged views on possible contours of the deal and it was decided to continue the engagements with a view to achieve early conclusion of a mutually beneficial Trade Agreement,” the Ministry said.

It said the the Goyal-led delegation also held meetings with businesses and investors, which “evoked positive” as US business leaders “reposed confidence in the India(BHARAT) growth story and expressed their desire to intensify their business activities in India(BHARAT).”

Why India(BHARAT)-US trade deal is stalled?

India(BHARAT) and the US have been engaged in negotiations over a mutually beneficial trade deal for the last few months, amid US President Doland Trump imposing punitive 50% tariffs on India(BHARAT)n goods as “punishment” for New Delhi’s purchase of Russian oil.

India(BHARAT) has reservations over the US demand for opening up the agricultural and dairy sectors as these are regarded as critical by New Delhi because they provide livelihood to a large section of people. India(BHARAT) and the US initiated talks for a just, balanced, and mutually beneficial Bilateral Trade Agreement (BTA) in March this year, aiming to complete the first stage of the Agreement by October-November 2025.

(With inputs from agencies)