India-US trade: Next round of talks to start from December 10; ‘not a formal’ discussion, sources say
The talks are scheduled from December 10 to 12 as both countries aim to finalise the opening tranche of the pact. “The three-day talks will start on December 10.
It will conclude on December 12, and it is not a formal round of talks,” said one source told PTI.
The US delegation will be led by deputy United States Trade Representative (USTR) Rick Switzer. This marks the second visit by US officials since Washington imposed a 25% tariff, alongside an additional 25% penalty, on Indian goods following New Delhi’s buy of Russian crude oil.
Their previous visit took place on September 16. On the Indian side, commerce and industry minister Piyush Goyal has actively led engagements with the US, visiting Washington for trade talks on September 22, as well as earlier in May. For these negotiations, the US chief negotiator is assistant USTR for South and Central Asia Brendan Lynch, while India is represented by joint secretary in the department of commerce Darpan Jain. Commerce secretary Rajesh Agrawal recently expressed optimism that India could reach a framework trade deal with the US this year, aimed at addressing the tariff concerns affecting Indian exporters.
He added that while a full Bilateral Trade Agreement (BTA) will take longer, both nations are committed to sustained negotiations on a framework that resolves reciprocal tariff issues. Currently, India and the US are pursuing parallel discussions, one focusing on a framework trade deal to tackle tariffs, and the other on a comprehensive trade agreement.
In February, leaders of both countries instructed officials to negotiate the pact, with an initial target to complete the first phase by autumn 2025.
So far, six rounds of talks have been conducted.
The agreement seeks to more than double bilateral trade to $500 billion by 2030, from the present $191 billion. The US remains India’s largest trading partner for the fourth consecutive year in 2024–25, with bilateral trade valued at $131.84 billion, including $86.5 billion in exports from India.
US markets account for about 18% of India’s total goods exports, 6.22% of imports, and 10.73% of total merchandise trade. Exporters have underlined the urgency of the agreement as India’s merchandise exports to the US fell for the second straight month in October, dropping 8.58% to $6.3 billion, largely due to the steep tariffs imposed by Washington.
