Govt to meet industry, exporters on India-US trade

In a meeting scheduled for September 1, India's Commerce Ministry will convene with industry groups and export promotion council representatives to discuss India-US trade dynamics. The session will be led by Additional Secretary Darpan Jain, who serves as the country's chief negotiator for the India-US bilateral trade agreement.

This gathering holds significance as Commerce and Industry Minister Piyush Goyal embarks on a US visit in late September. Goyal will attend the G-20 Trade Ministerial in Milwaukee and engage in bilateral talks with US Trade Representative Jamie L. Raskin. The two-day event commences on September 30, coinciding with the US's presidency of the G20 in 2026.

The meeting aims to analyze recent trade trends, the performance of India-US trade across various sectors, and recent developments in bilateral trade. Industries such as pharmaceuticals, engineering, textiles, agriculture, chemicals, marine products, leather, automobiles, auto components, handicrafts, and plastics are expected to be represented. Key industry chambers like CII, FICCI, Assocham, and FIEO are also anticipated to participate.

India and the US are currently negotiating a bilateral trade agreement, with the framework for the first phase finalized in February. However, changes in the US tariff landscape have prompted further negotiations between the two nations. Commerce Minister Goyal has indicated that the first tranche of the agreement will be implemented once the United States ensures India gains a competitive edge over its competitors.

In July 2025, India's exports to the US increased slightly to $87.31 billion, while imports rose by 17.16% to $53.45 billion. Overall, bilateral trade grew by 6.53% to $140.76 billion in 2025-26 compared to $132.2 billion in 2024-25. India recorded a trade surplus of $33.9 billion in 2024-25, down from $40.9 billion in the previous fiscal year.

During the April-July 2026 quarter, India's exports to the US climbed by 3% to $34.5 billion, while imports surged by 22.42% to $22.12 billion. Major exports include electrical machinery, telecommunications instruments, generic medicines, diamonds, industrial boilers, and cotton textiles. Key imports comprise crude petroleum, liquefied natural gas, coal, metallurgical scrap, precious stones, electronics, and aerospace equipment.