Government sources have indicated that the talks between India and the United States for a Bilateral Trade Agreement (BTA) are on track, and efforts are underway to meet the fall deadline for the first tranche of the agreement.While the date and venue of the next round of negotiations are yet to be finalised, sources added that there is an impact of tariffs on exports of pharmaceuticals from India, which is being studied. US President Donald Trump has announced 100% tariffs on branded and patented drugs entering the country from October 1 onwards.A delegation led by India’s Commerce and Industry Minister Piyush Goyal had visited the US from September 22-24, 2025, where the Minister had meetings with the US Trade Representative Ambassador Jamieson Greer and the US Ambassador-designate to India, Sergio Gor.
Apart from meetings with the US Government representatives on bilateral trade matters, the delegation held discussions with key US-based businesses and investors on promoting trade and investment between the countries.
As per a release by the Ministry of Commerce and Industry, the delegation had constructive meetings with the US Government on various aspects of the deal and exchanged views on its possible contours of the deal.Subsequently, it was decided to continue the engagements with a view to achieving an early conclusion of a mutually beneficial Trade Agreement. As per the Ministry, the meetings with businesses and investors evoked a positive response, with business leaders expressing their desire to intensify their business activities in India.In the course of his visit, Piyush Goyal addressed a session on “Energy Security in a Shifting Global Landscape” in New York, emphasising the role of clean energy transition. He met Italy’s Deputy PM Antonio Tajani and discussed ways to further boost bilateral trade and investment ties.Among industry leaders, Goyal met World Bank’s President Ajay Banga, IBM’s CEO Arvind Krishna, FedEx’s CEO Raj Subramaniam, DP World’s Chairman Sultan Ahmed Bin Sulayem, Carlyle’s CEO Harvey Schwartz, Warburg Pincus’ Chairman Chip Kaye and Blackstone’s Chairman Stephen Schwarzman.The visit followed a productive, day-long discussion held between India’s Chief Negotiator and the US Chief Negotiator, Brendan Lynch on September 16 in New Delhi. The Commerce Ministry had described those discussions as “positive,” with both sides agreeing to accelerate efforts toward an “early and mutually beneficial conclusion” of the proposed trade agreement.The sixth round of BTA negotiations between both sides, earlier slated for the last week of August in New Delhi, had been postponed. The US has already levied a 25% tariff on imports from India, along with an additional 25% tariff as a penalty for India’s continuing purchase of Russian crude oil.
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