New Delhi: The status of a US delegation visiting India for the next round of bilateral trade talks will be known closer to the scheduled date of August 25, Commerce Secretary Sunil Barthwal said Thursday.
He also said that the two countries are fully engaged in the trade negotiations.
When asked about the next round of talks (from August 25), he said, closer to the date, which is the end of last week of August, you will be able to know how that round will be progressing. We will apprise you.
So far, five rounds of talks have been completed for the proposed bilateral trade agreement (BTA). A US team is scheduled to visit India from August 25 for the sixth round of talks.
These remarks are important as after imposing a staggering 50 per cent duty on Indian goods, US President Donald Trump has also ruled out any trade talks between the two countries until the tariff issue is resolved. The US is pressing for greater market access in politically sensitive areas such as the agri and dairy sectors, which India cannot accept, as it affects the livelihood of small and marginal farmers.
The commerce secretary, however, said that BTA talks are going on. We are engaged.
These discussions are happening at three levels – negotiating teams, ministers and at diplomatic levels.
So this negotiation is happening across various channels. We are engaged, US is a very important trading partner for us, Barthwal said.
The US and India have announced plans to conclude the first phase of BTA by fall (September-October) of 2025. The two countries are aiming at more than doubling the bilateral trade to USD 500 billion by 2030 from the present USD 191 billion.
So far, there are no formal communications from the US on the August 25 visit for the next round of trade talks.
When asked about the impact of US tariffs on Indian exports, an official said the commerce ministry is in touch with stakeholders on the issue.
While the 25 per cent tariff on Indian goods entering the US has come into effect from August 7, an additional 25 per cent, announced on India as a penalty for buying crude oil and military equipment from Russia, will be imposed from August 27.
Exporters from labour-intensive sectors such as leather and footwear, textiles, shrimp, chemicals, machinery, and gems and jewellery have expressed serious concerns over the 50 per cent duty announced by the US.
The official said that Indian firms which are exporting to the US are looking at diversifying their export destinations.
The companies are also involved in strategising their exports. They may face some challenges, the official said, adding that states are also looking at ways to support the exporting community.
Another official said that the situation is very fluid at the global trade front.
The imposition of a 50 per cent US tariff on Indian goods will impact exports of nine product categories, including shrimp, organic chemicals, apparel, and jewellery, by 50-70 per cent, think tank GTRI has said.
In 2024-25, the bilateral trade between India and the US stood at USD 131.8 billion (USD 86.5 billion exports and USD 45.3 billion imports).
PTI
