New Delhi/Patna, Sept 11 (HS): Union Commerce and Industry Minister Piyush Goyal on Thursday said that the first phase of the India-US trade agreement will be finalized by November 2025, with negotiations progressing to the satisfaction of both sides.

Addressing a press conference in Patna, Goyal stated that Prime Minister Narendra Modi and US President Donald Trump had earlier confirmed the progress of talks and directed their ministers to conclude the first part of the deal by November. His remarks came a day after a positive social media exchange between the two leaders.

Reiterating his stance at a FICCI event on Wednesday, Goyal said that India is actively engaged in trade talks not only with the United States but also with New Zealand. A delegation of US negotiators is expected to visit India later this month, paving the way for the signing of the bilateral trade agreement (BTA) before November. India’s chief negotiator Rajesh Malhotra is currently working on finalizing key parameters of the pact.

The development signals a thaw in recent trade tensions between New Delhi and Washington. Just weeks earlier, President Trump had imposed a hefty 50 percent tariff on India — comprising a 25 percent baseline tariff and an additional 25 percent penalty over India’s continued import of Russian oil.

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Hindusthan Samachar / Jun Sarkar