India-US trade talks set for next week; Ambassador Sergio Gor hints at 'big-ticket' announcements

An official Indian delegation will visit Washington next week to hold trade talks with US authorities, PTI reported on Wednesday quoting an official source, amid efforts by the two countries to advance an interim bilateral trade agreement.

The upcoming meeting between trade officials holds importance as India and the United States have already finalised the framework for the first phase of the proposed pact.

The team will visit the US next week, according to the report.

The agreement, which was initially expected to be signed in March, has been delayed due to changes in the US tariff regime following a Supreme Court ruling that struck down the earlier sweeping tariffs imposed by President Donald Trump.

The US later imposed a uniform 10% tariff on imports from all countries for 150 days starting February 24, impacting the comparative advantage India had during earlier negotiations.

A senior government official had earlier indicated that the interim agreement would be signed once the new global tariff architecture of America is in place.

"Because at the end of it, each country is doing a deal as a part of a package where one is at comparative advantage...vis a vis competitors," PTI had quoted the official as saying.

The meeting between the chief negotiators of India and the US was postponed last month.

Prime Minister Narendra Modi on Tuesday said he had spoken with US President Donald Trump and reviewed the “substantial progress” in bilateral ties.

"Received a call from my friend President Donald Trump. We reviewed the substantial progress achieved in our bilateral cooperation in various sectors. We are committed to further strengthening our Comprehensive Global Strategic Partnership in all areas," Modi said on X.

"We also discussed the situation in West Asia and stressed the importance of keeping the Strait of Hormuz open and secure," he said.

It was the third phone call between the two leaders this year and the first after the recent peace talks between Iran and the US. They spoke on February 2 to announce progress in a trade deal, and on March 24 to discuss the situation in West Asia.

Meanwhile, US Ambassador Sergio Gor indicated that several “big-ticket” announcements related to energy and other sectors could be expected in the coming weeks.

"We have some big-ticket items that will be announced over the next few days or weeks, and the relationship is on a firm footing. We will have something very interesting and exciting," Gor said.

Asked to elaborate, he added: " In terms of some of the deals that might occur, might get announced soon, it'll be related to energy. It'll be related to some other items, but stay tuned. That's all I'll say."

The upcoming talks are also crucial as the United States has initiated investigations under Section 301 of its trade law.

On March 11, the Office of the United States Trade Representative (USTR) initiated another Section 301 investigation targeting industrial policies and practices of 16 economies, including India and China.

On March 12, the USTR launched another probe covering around 60 economies, including India and China, to examine whether their policies related to forced labour-linked imports are discriminatory or restrict US commerce.

The outcome of these investigations could have implications for future trade negotiations between the two countries.