India’s Commerce Ministry has stated that negotiations with the United States for a Bilateral Trade Agreement (BTA) are progressing positively, though no deadline can be set for finalisation. A virtual meeting between Commerce and Industry Minister Piyush Goyal and the US Trade Representative last month marked the latest round of discussions.
While both sides remain optimistic about a trade deal, the Ministry emphasised that any agreement will be concluded only when both parties are ready. Sectoral data is being analysed to assess the impact of US tariffs on India’s exports.
Exports to the US have been described as a “mixed bag.” Pharmaceutical exports continue robustly, and electronic goods exports have grown in the absence of tariffs. However, marine exports have faced challenges, prompting the government to encourage diversification through initiatives such as the Export Promotion Mission and upcoming FTAs with the UK, Oman, and New Zealand, expected to be operational within the year.
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On energy trade, India continues to import oil from the US and traditional West Asian partners. Trade with Iran remains limited, focused mainly on food products and pharmaceuticals, with the government monitoring potential US sanctions to determine India’s response.
(Edited by : Sheersh Kapoor)
