It's Not Over; India-US Trade Talks Underway To Seek Win-Win Deal For Both Countries: Report

India and the United States are deepening their engagement on trade, with negotiations moving forward across multiple levels to reach a mutually beneficial outcome, government sources said on Wednesday.

According to officials cited by ANI, discussions between New Delhi and Washington are “deeper and ongoing,” and both sides are focused on finding a “win-win solution” to pending trade issues.

“The ambassador-designate was recently in India and met with key stakeholders for a series of productive meetings,” one official said, underscoring that talks remain active and constructive.

Officials also pointed to India’s expanding trade footprint in the US market. “Our exports to the US have shown steady growth, and around 45% of them currently fall outside tariff coverage,” they added, suggesting that the two economies are already well integrated.

The renewed push for a bilateral trade deal comes amid shifting global supply chains. A recent report by the Global Trade Research Initiative (GTRI) noted that the US is eager to fast-track a trade pact with India as part of its broader effort to reduce dependency on China and secure access to critical minerals and rare earths.

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GTRI Director Ajay Srivastava said Washington’s strategy is evolving in response to rising geopolitical tensions and tighter Chinese controls on key exports. “The US wants reliable partners to build alternative supply chains,” he observed, adding that India could receive tariff access in the range of 16–18%—higher than the EU and Japan but below Vietnam’s 20%.

Srivastava also noted that an early agreement could help ease US tariffs of up to 50% currently affecting Indian exporters. However, he cautioned that India must stand firm on key issues such as agriculture, digital trade, e-commerce, and intellectual property, while resisting any clauses that could restrict its strategic autonomy.

Meanwhile, a team of senior Indian officials is expected to visit the US this week to fast-track the negotiations. The visit follows Commerce and Industry Minister Piyush Goyal’s recent trip to New York, during which both sides agreed to accelerate efforts toward a comprehensive trade partnership.

The proposed deal aims to more than double bilateral trade to $500 billion by 2030, compared with the current $191 billion. The US remained India’s top trading partner for the fourth consecutive year in 2024-25, with total trade at $131.84 billion, including $86.5 billion worth of Indian exports. The US now accounts for roughly 18% of India’s exports and over 10% of total merchandise trade — numbers that underscore the urgency behind a deal both governments see as pivotal for future growth.