Commerce & Industry Minister Piyush Goyal on Thursday said that discussions on a trade pact between India and the US have been going on in a positive atmosphere with seriousness since March this year and both the countries are satisfied with the progress.
US Commerce Secretary Howard Lutnick, however, linked the trade talks to India’s buying of Russian oil saying that the US will sort out with India once it stops its Russian transactions.
“Discussions have been going on in a positive atmosphere with seriousness since March. It is progressing, and both the countries are satisfied with the progress,” Goyal told reporters in Patna on Thursday.
Patna, Sep 11 (ANI): Union Minister Piyush Goyal addresses a press conference at the BJP office, in Patna on Thursday. (ANI Photo)
| Photo Credit: ANI
While there is no official word yet on the next round of talks, there are expectations that it may happen soon, sources said.
Positive sign
Goyal’s statement follows positive signalling by US President Donald Trump on Tuesday on the India-US bilateral trade agreement (BTA) negotiations continuing following weeks of uncertainty. Last month, the US not only imposed a total 50 per cent duties on Indian imports but also postponed the visit of its negotiating team to New Delhi. PM Narendra Modi reciprocated Trump’s optimism on the talks.
Lutnick’s linking of the India-US trade talks to India stopping Russian oil purchase on Thursday spells uncertainty for the path ahead.
“We will sort out India; they have to stop buying Russian oil,” Lutnick said in a television interview.
It is not clear yet whether the US Commerce Secretary’s comments indicate that the US may not want to remove the 25 per cent tariffs (of the total 50 per cent) imposed on India for buying oil from Russia till it stops its purchases, or if it is a condition for coming back to the negotiating table.
New Delhi’s demand
Sources close to the Indian government told businessline earlier that New Delhi wanted the entire 50 per cent of tariffs imposed by the US on Indian goods be addressed in the BTA negotiations, notwithstanding the fact that 25 per cent of the tariffs are linked to its purchase of Russian oil.
Trump as well as top US officials have been accusing India of fuelling Russia’s war on Ukraine by purchasing oil from the country.
Goyal pointed out that it was in February that Modi and Trump had instructed the trade ministers of both the countries to conclude the first phase of the proposed bilateral trade agreement (BTA) by fall (November) of 2025.
The US has been seeking market access in sensitive areas such as agriculture and dairy, which is one of the main reasons why talks have not progressed well. These areas are redlines for India where it would be politically risky for the government to make commitments.
Published on September 11, 2025
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