Commerce ministry meeting industry, exporters on India-US trade on September 1
India's Commerce Ministry will meet industry leaders on September 1 regarding trade performance. This meeting precedes Minister Piyush Goyal's US visit for G-20 talks. Discussions will focus on recent trade trends and sector-wise performance. Negotiations for a bilateral trade agreement are ongoing between the two nations. India seeks a comparative advantage for its exports in the US market.
On September 1, India's Commerce Ministry will convene a meeting with industry groups and exporters' councils to assess trade performance between the two nations, according to an official. The session will be presided over by Darpan Jain, Additional Secretary and chief negotiator for the India-US bilateral trade agreement. The meeting coincides with Piyush Goyal's upcoming visit to the US in late September for the G-20 Trade Ministerial and bilateral talks with USTR Jamieson Greer.
Recent trade trends, sector-wise performance, and new developments in India-US bilateral trade will be discussed. Sectors including pharmaceuticals, engineering, textiles, agriculture, chemicals, marine products, leather, automobiles, auto components, handicrafts, and plastics will be represented. The CII, FICCI, Assocham, and FIEO are expected to take part.
India and the US are currently negotiating a bilateral trade agreement, with the first phase framework finalized in February. However, recent changes in the US tariff landscape have prompted further negotiations. Goyal has stated that the first phase will commence once the US guarantees India a comparative advantage over its competitors. The US imposed an additional 10% tariff on India and several other countries in July 2025.
India exported USD 87.31 billion to the US in 2025-26, up marginally from USD 86.51 billion in the previous fiscal year. Imports to the US rose by 17.16% to USD 53.45 billion in the same period. Total trade jumped by 6.53% to USD 140.76 billion in 2025-26. India's trade surplus with the US was USD 33.9 billion in the last fiscal year, down from USD 40.9 billion in 2024-25.
In April-July 2026-27, India's exports to the US increased by 3% to USD 34.5 billion, while imports grew by 22.42% to USD 22.12 billion. Major exports to the US include electrical machinery, telecom instruments, generic medicines, diamonds, industrial boilers, and cotton textiles. Imports consist of crude petroleum, liquefied natural gas, coal, metallurgical scrap, precious stones, electronics, and aerospace equipment.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Govt to meet industry, exporters on India-US trade economictimes.indiatimes.com
