Piyush Goyal, USTR Greer discuss interim trade deal, review progress on BTA negotiations

India and the US on Wednesday reviewed progress in negotiations for a proposed bilateral trade agreement during talks between Commerce and Industry Minister Piyush Goyal and visiting US Trade Representative Jamieson Greer.

Greer, who led an official US delegation to New Delhi from June 22 to 24, held multiple rounds of discussions with Goyal as the two sides sought to push forward talks on a balanced and mutually beneficial Bilateral Trade Agreement (BTA), according to an official statement.

The Commerce Ministry said the two leaders undertook a comprehensive review of key elements of the proposed pact, including market access, digital trade, supply chain resilience, reduction of non-tariff barriers and cooperation in strategic sectors.

“Both sides noted substantial progress by negotiating teams in recent months and welcomed the momentum from successive technical and ministerial-level engagements,” the ministry said.

It said the discussions focused on pathways to conclude an interim agreement, which would serve as an important step towards a comprehensive BTA.

“Both sides reaffirmed their commitment to an agreement that is balanced, commercially meaningful, and delivers tangible benefits for businesses, farmers, workers, and consumers in both countries,” it added.

The talks come weeks after chief negotiator-level discussions were held in New Delhi from June 2 to 4 and amid indications from both governments that they are close to finalising the pact.

The visit also follows Prime Minister Narendra Modi’s meeting with US President Donald Trump on the sidelines of the G7 Summit in France last week, where the two leaders reviewed progress in the negotiations and asked officials to work towards concluding a “balanced, mutually beneficial and commercially meaningful” agreement at the earliest.

Commerce Secretary Rajesh Agrawal had earlier said the discussions between Greer and Goyal were expected to focus on giving final touches to the framework deal as well as the broader BTA under negotiation.

India and the US had in February finalised the contours of the first phase of the pact, but subsequent changes in the US tariff regime led to a reassessment of some elements of the framework.

The interim agreement has gained urgency as the existing US tariff regime, under which a 10% duty was imposed on imports from all countries for 150 days from February 24, is due to expire on July 24.

The ministry said both countries also reiterated the importance of expanding bilateral trade, fostering innovation and building resilient and trusted supply chains amid evolving global trade dynamics.

“The two sides expressed confidence that ongoing negotiations will further deepen economic ties and strengthen the India–U.S. Comprehensive Global Strategic Partnership,” the ministry said.