Piyush Goyal To Lead Delegation For India-US Trade Talks On September 22

Commerce and Industry Minister Piyush Goyal will head an official delegation to New York on September 22, 2025, for high-level trade discussions with the United States, aiming to accelerate negotiations toward a mutually beneficial bilateral trade agreement. Accompanied by Special Secretary Rajesh Agrawal and other officials, the visit follows positive daylong talks on September 16 between Agrawal and US Chief Negotiator Brendan Lynch in India. The ministry's statement on September 20 emphasized intensifying efforts to conclude the pact, building on five prior rounds of negotiations.

The proposed Bilateral Trade Agreement (BTA), directed by leaders of both nations in February 2025, targets doubling bilateral trade to $500 billion by 2030 from the current $191 billion. The first tranche is slated for completion by October-November 2025. The US, India's largest trading partner for the fourth straight year in 2024-25 with $131.84 billion in bilateral trade ($86.5 billion in exports), accounts for 18% of India's goods exports, 6.22% of imports, and 10.73% of total merchandise trade. Goyal's earlier May visit included meetings with US Commerce Secretary Howard Lutnick, and he reiterated on September 18 that talks are "progressing in the right direction."

The delegation's trip gains urgency amid escalating trade tensions, including the US administration's recent imposition of a 50% tariff on Indian goods—comprising a 25% base tariff plus an additional 25% penalty for India's purchases of Russian crude oil. These measures, enacted earlier this year, have strained exporters in sectors like steel and textiles.

Additionally, the US's abrupt hike of the H-1B visa application fee to $100,000, announced on September 19, threatens to disrupt India's $200 billion IT services industry. Nasscom, the sector's apex body, warned on September 20 that the change could halt business continuity for onshore projects, potentially requiring costly adjustments and affecting thousands of skilled workers.

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This visit marks the first high-level Indian response to the US team's September 16 engagement, where both sides agreed to expedite the BTA amid global supply chain shifts and geopolitical pressures. Success could mitigate tariff impacts and open new market access, but challenges persist, including US demands for reduced agricultural barriers and intellectual property reforms. As negotiations unfold, the outcome will shape India's export strategy and tech talent mobility in a pivotal year for economic ties.

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