Commerce ministry discusses India-US trade performance with exporters, their issues on market access
The commerce ministry of India is actively soliciting feedback from exporters about challenges in accessing the US market. Minister Piyush Goyal's upcoming trip to the US centers around critical discussions on alleviating tariff-related uncertainties and advancing trade deals. Exporters are experiencing a drop in order volumes, indicating a pressing need for intervention in safeguarding quartz…
New Delhi - The commerce ministry convened a meeting with exporters to address concerns about US market access, according to an official. Some exporters urged the ministry to expedite the India-US trade pact to mitigate tariff-related uncertainties, with Additional Secretary Darpan Jain chairing the session as the country's chief negotiator for the agreement.
The discussion comes as Commerce and Industry Minister Piyush Goyal prepares to visit the US in late September for a G-20 Trade Ministerial in Milwaukee and bilateral talks with US Trade Representative Jamie L. Raskin. Goyal is expected to lead a business delegation to Chicago soon after the G20 event.
While export orders from the US remain strong, the exporter noted a decline in order volume due to tariff uncertainties. American buyers are diversifying their import sources and not placing large or long-term orders. Additionally, the industry raised concerns over US safeguard measures on quartz surface products, urging the ministry to address the issue with American authorities.
Export promotion council representatives shared export data and discussed their sectors' performance. The meeting aimed to cover recent trade trends, sector-wise performance, and recent bilateral trade developments. Represented sectors included pharmaceuticals, engineering, textiles, agriculture, chemicals, marine products, leather, automobiles, auto components, handicrafts, and plastics.
India and the US are negotiating a bilateral trade agreement, with the framework for the first phase finalized in February. However, recent tariff changes have prompted further negotiations. Goyal has stated that the pact's first tranche will take effect once the US ensures India gains a competitive advantage over its competitors.
The US added a 10% tariff on several countries, including India, in July 2025, affecting countries like Sri Lanka, Bangladesh, Thailand, Cambodia, Vietnam, Indonesia, and Malaysia, which are India's major competitors in the US market. India's exports to the US grew marginally to USD 87.31 billion in 2025-26, while imports rose by 17.16% to USD 53.45 billion.
Total trade between the two nations increased by 6.53% to USD 140.76 billion, with India enjoying a trade surplus of USD 33.9 billion in 2025-25. During April-July 2026-27, India's exports to the US increased by 3% to USD 34.5 billion, while imports jumped by 22.42% to USD 22.12 billion.
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.
