New Delhi: Commerce and Industry Minister Piyush Goyal recently shared positive updates on trade discussions between India and the US. He emphasized that protecting the interests of farmers, fishermen, and the MSME (Micro, Small, and Medium Enterprises) sector is a priority for India. “No agreement will be made until we ensure that our farmers and fishermen are taken care of,” he noted.
These talks are crucial. The US is looking for concessions in India’s agriculture sector. Earlier this week, Indian officials, led by Commerce Secretary Rajesh Agrawal, met with their US counterparts in Washington. The aim? To finalize a Bilateral Trade Agreement (BTA) by late 2025.
Since February, progress has been made. Five rounds of negotiations have taken place, following orders from leaders of both nations. In 2024-25, the US remained India’s largest trading partner, with trade valued at around USD 131.84 billion. Interestingly, about 18% of India’s total exports go to the US.
However, recent tariffs imposed by the US have stirred some trouble. India’s exports to the US dropped by nearly 12% in September due to these high tariffs. In contrast, imports increased. Despite this setback, Goyal has expressed confidence that India’s goods and services exports will grow positively this fiscal year. In the first half of 2025-26, exports rose by about 5%. This shows a resilient demand for Indian products globally.
In light of the challenges, Goyal also highlighted the benefits of recent GST rate cuts. This change appears to have positively impacted the market, with hopes of higher demand emerging. He reassured that most companies have passed these benefits on to consumers, promoting a healthier business environment.
Experts suggest that the evolving trade dynamics are critical, not just for the parties involved but for the global economy as well. With the goal of doubling bilateral trade to USD 500 billion by 2030, both countries seem eager for a win-win agreement. Social media is buzzing with discussions about the implications of these talks, reflecting widespread public interest in the ongoing negotiations.
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INDIA US TRADE TALKS, FARMER INTERESTS, PIYUSH GOYAL, TRUMP TARIFF, INDIA US BILATERAL TRADE, TRADE TALKS ON IN CORDIAL ATMOSPHERE WITH US FARMER MSME INTEREST WILL BE PROTECTED GOYAL
