India-US Trade Talks Begin Today
India and the United States are set to begin another round of high-level trade talks as New Delhi looks to conclude the first phase of a bilateral trade agreement amid a sharp fall in India’s trade surplus with the US.
India-US Trade Talks Begin Today
Commerce Minister Piyush Goyal is scheduled to hold two-day talks with US Trade Representative Jamieson Greer from Tuesday. The discussions are expected to focus on giving final shape to the first tranche of the proposed India-US trade deal.
The talks come after more than a year of tariff tensions between the two countries. Officials expect the discussions to address market access, tariff commitments and future trade safeguards before the proposed agreement is finalised.
India-US Trade Surplus Declines
India’s trade surplus with the United States has fallen by more than 40% since the negotiations gained momentum last year. Commerce Ministry data shows that India’s export surplus with the US declined to $2.94 billion in May 2026 from $5.02 billion in May 2025.
The fall has been visible across multiple sectors, with Indian exports declining in categories such as petroleum products, electronic components, organic chemicals, copper products, motor vehicles and fresh fruits. At the same time, imports from the US have increased in several of these segments.
Section 301 Tariffs In Focus
The timing of the talks is significant as the US is expected to complete its Section 301 investigation next month. The outcome could shape Washington’s future tariff policy and may influence the structure of the proposed trade agreement.
Agriculture remains a sensitive area for India, with farmer groups warning against commitments that could increase imports of heavily subsidised US farm products. Concerns have been raised over possible impact on apple, almond, walnut, soybean, cotton and rubber growers.
