India-US trade deal soon? Officials from Washington expected to visit New Delhi next week

A team of US representatives is reportedly expected to visit India next week to hold talks on reaching a bilateral trade agreement. Reports suggested that dates for the negotiations are being finalised and discussions have begun between New Delhi and Washington. The visit by the US officials would be the second since US President Donald Trump imposed 50 per cent tariffs on the Asian nation, citing its Russian oil purchases. A US team had earlier visited New Delhi on September 16.

“The team is likely to come next week. Dates are being finalised, and discussions are on,” news agency PTI reported, citing sources.

Earlier on September 22, an Indian delegation led by Commerce and Industry Minister Piyush Goyal also visited the United States for trade talks. He was also accompanied by the then special secretary in the ministry, Rajesh Agrawal and other officials. Agrawal is now the country’s commerce secretary. The US delegation was led by Chief Negotiator Brendan Lynch. Goyal had also met with US Commerce Secretary Howard Lutnick in Washington earlier in May.

Bloomberg reported, citing a US official, that the US delegations for the upcoming talks will be led by Deputy US Trade Representative Rick Switzer.

Last week, Indian Commerce Secretary Rajesh Agrawal said, “We are very optimistic and hopeful that we should find some solution this calendar year.” He added, “What needs to come out first is a framework trade deal which is able to address the reciprocal tariffs.”

Trump said last month that he would lower the tariffs on Indian goods “at some point”, adding that the two nations were “pretty close” to reaching a trade agreement.

Meanwhile, Russian President Vladimir Putin, who is currently on a visit to India, said that if Washington is permitted to buy Russian nuclear fuel for its power plants, New Delhi should similarly have the right to purchase Russian energy resources.

“As for India’s purchase of energy resources from Russia, I would like to note and have already mentioned publicly this once, the United States itself still buys nuclear fuel from us for its own nuclear power plants,” Putin said on Thursday (Dec 4). “That is also fuel, Uranium for the reactors operating in the United States. If the US has the right to buy our fuel, why shouldn't India have the same privilege?”