India and the United States reviewed progress on negotiations for an interim bilateral trade agreement (BTA) during a two-day ministerial meeting in New Delhi, with both sides aiming to conclude the pact before Washington's temporary 10 per cent tariff regime expires on July 24.
US Trade Representative Jamieson Greer visited India from June 22-24 and held multiple rounds of talks with Commerce and Industry Minister Piyush Goyal. The discussions focused on advancing the first phase of the proposed trade agreement and building momentum toward a broader comprehensive deal.
According to the Commerce Ministry, the two sides conducted a detailed review of key elements of the proposed BTA, including market access, digital trade, supply chain resilience, reduction of non-tariff barriers and cooperation in strategic sectors.
The ministry said negotiating teams from both countries had made substantial progress in recent months. Discussions during the visit centred on finalising an interim agreement that would serve as an important milestone towards a comprehensive bilateral trade pact.
Both ministers reiterated their commitment to a balanced and commercially meaningful agreement that would generate benefits for businesses, farmers, workers and consumers in both countries. They also emphasized the importance of strengthening bilateral trade, promoting innovation and developing resilient supply chains amid evolving global trade conditions.
Earlier on Wednesday, Goyal said in a social media post that both sides had reviewed ongoing negotiations and appreciated the constructive efforts made by
the negotiating teams.
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The meeting gained added significance as India and the US seek to recalibrate trade arrangements following changes in US tariff policies that altered the framework agreed upon earlier this year.
Greer's visit came shortly after Prime Minister Narendra Modi and US President Donald Trump met on the sidelines of the G7 Summit in France on June 17, providing fresh impetus to the trade talks.
India has been particularly focused on securing favourable tariff treatment under the agreement after changes in the US tariff regime reduced the advantages it expected over competing exporters such as Vietnam and other ASEAN economies.
India and the US formally launched BTA negotiations in February 2025. Both countries are now working to finalise an interim pact before July 24, when the temporary US tariff measures are set to expire and normal Most Favoured Nation (MFN) tariff rates are expected to be restored.
Under the proposed framework, India has offered to reduce or eliminate tariffs on a range of American industrial and agricultural products. New Delhi has also indicated plans to significantly increase purchases of US energy products, aircraft, technology goods and other commodities over the next five years.
The US remained India's second-largest trading partner in 2025-26. During the fiscal year, India's exports to the US rose marginally to USD 87.3 billion, while imports increased nearly 16 per cent to USD 52.9 billion. India's trade surplus with the US stood at USD 34.4 billion, lower than the USD 40.89 billion recorded in the previous year.
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