India and the United States are nearing the concluding stages of their discussions regarding the first phase of the proposed Bilateral Trade Agreement (BTA), according to Commerce Secretary Rajesh Agrawal. He noted that the two nations have been engaged in regular virtual meetings to facilitate these talks. Although there are no set deadlines for finalizing the agreement, Agrawal confirmed that the initial phase of negotiations is progressing rapidly.
President Donald Trump has also expressed optimism about enhancing US-India relations, creating renewed expectations that a bilateral trade agreement between the world’s two largest democracies could be signed soon. At the White House, Trump stated that his discussions with Indian Prime Minister Narendra Modi were “going great” and hinted at a possible visit to New Delhi next year. He also mentioned plans to reduce tariffs imposed on India, suggesting that a breakthrough in trade negotiations might be on the horizon.
During a ceremonial event for the swearing-in of Sergio Gor as the new US Ambassador to India, Trump remarked, “I think we’re pretty close to doing a deal (with India) that’s good for everybody.” However, Indian Commerce Minister Piyush Goyal emphasized that India would not compromise the interests of its farmers, dairy sector, and workers in any trade agreements made with other countries.
Goyal further stated that the timing for these agreements would depend on mutual readiness between the two nations. He affirmed, “The trade deal can happen tomorrow, it can happen next month, it can happen next year… but as a government, we are preparing for any contingency.” In a strategic move, India has begun increasing its purchases of oil and gas from the US, aiming to address its trade surplus with the United States, which has been a topic in prior negotiations.
In this effort, Minister of Petroleum and Natural Gas Hardeep Singh Puri announced that India’s public sector oil companies have secured a one-year structured contract to import approximately 2.2 million tonnes of liquefied petroleum gas (LPG) from the US Gulf Coast during 2026. This arrangement constitutes nearly 10 percent of India’s annual LPG imports and marks the first structured LPG contract between the two countries. Puri hailed this decision as a “historic development,” noting that it opens one of the world’s largest and fastest-growing LPG markets to US suppliers.
Original Source: https://www.india.com/news/india/major-update-on-india-us-trade-deal-bilateral-trade-agreement-trump-pm-modi-8189083/
Category: India,India US trade deal
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Publish Date: 2025-11-17 19:20:00
