India is fast-tracking trade talks with the US with the goal of concluding deal negotiations by next month, according to people familiar with the matter, even as Russian oil imports remain a sticking point.
New Delhi is working on a plan that would be mutually acceptable to address the issue, the people said, asking not to be identified as the matter is still private. They however did not share other details. Most of the other trade issues between the two nations have been resolved, they said.
An Indian delegation is in the US this week to advance trade talks amid the government shutdown. India’s Ministry of Commerce and Industry didn’t respond to a request for comment.
India’s government officials are cautiously optimistic about the renewed momentum in talks and believe that, at the current pace, negotiations could be wrapped up by November, the people said. The US and India had earlier agreed to finalise a bilateral deal by the fall.
India-US Trade Talks
Trade talks had stalled after the US doubled tariffs on Indian goods to 50%, penalising the South Asian nation for its purchases of Russian energy. Talks resumed last month after US President Donald Trump called Prime Minister Narendra Modi on his birthday, easing tensions between the two countries.
Speaking in Egypt on Monday, Trump described Modi as “a very good friend” and called India “a great country”. Other US officials have also struck an upbeat tone about the relationship in recent weeks.
The newly appointed US ambassador to India, Sergio Gor, called on Modi last week and said in a post on X that the US’s “relationship with India will only strengthen over the months ahead!”
India-US Trade Deal
Since last month, trade teams from both nations have met twice—a US delegation visited Delhi for a day of talks, followed by a trip to Washington led by India’s Commerce and Industry Minister Piyush Goyal. After the meetings, both sides described the discussions as “positive” and agreed to step up efforts to reach a deal.
India has offered concessions to the US in those talks, including easing some restrictions on the import of genetically modified corn, and offering to buy more American defence and energy goods, Bloomberg News reported earlier.