Business
India-US Trade Talks: Both Countries Engaged In Negotiations, Says Commerce Secretary
Last Updated:
‘Both sides are engaged (in trade deal talks)…and both sides feel that there can be a trade deal,’ Commerce Secretary Rajesh Agrawal told reporters.
India-US Trade Deal Update.
India and the United States are currently engaged in discussions aimed at finalising a trade deal, Commerce Secretary Rajesh Agrawal said on Thursday, noting that India’s exports to the US continue to post positive growth despite the imposition of high tariffs.
“Both sides are engaged (in trade deal talks)…and both sides feel that there can be a trade deal,” Agrawal told reporters.
He added that engagement between the two countries has continued at senior levels, including a virtual meeting held in December last year between Commerce and Industry Minister Piyush Goyal and United States Trade Representative Jamieson Greer.
The comments underline ongoing efforts by New Delhi and Washington to deepen trade ties even as tariff-related challenges persist.
“There are engagements going on, and negotiating teams are talking virtually on issues which are still pending. But we can’t put a deadline. It’s very near. That will happen as long as both sides are ready, they feel it is the right time to announce,” he told reporters.
A team of US officials led by Ambassador to India, Sergio Gor, Deputy USTR, Rick Switzer, met Commerce Minister Piyush Goyal on December 10, 2025 and the Commerce Secretary Agrawal on December 11, 2025, at Vanijya Bhawan, to take forward the negotiations.
Agrwal also noted that India’s exports to the US are “still holding on to a positive trend.”
“It was still doing around USD 7 billion (monthly) despite high tariffs. We are focusing more on areas where tariffs are less, or in areas where tariffs are there, and industry has been showing resilience and holding on to the supply chains,” he said.
There were apprehensions that India’s exports to the US would with additional tariffs imposed by the US administration.
Talking about India’s energy imports, Commerce Secretary said India has been buying from all traditional suppliers but largely Middle East.
“We are buying a lot of oil from US these days. Import from US is increased,” he said.
Energy trade has been a bone of contention in the trade deal talks with the US, and the Trump administration wants more shipments to come to India. India imports over 80 per cent of its energy needs.
On the issue of any possible trade disruptions with Iran, the Commerce Secretary said India has a very limited trade.
“We are looking at that. We are awaiting details and as and when details are there, we will look into it,” he said.
He also gave an update on the India-Canada trade talks. “We are engaged. There was a positive decision to start engaging on trade talks and see how we can restart our negotiations. Both sides are engaged in finalizing Terms of Reference (ToR) for mutually beneficial trade agreement,” he said.
India is actively negotiating trade agreements with several countries, in a bid to expand trade and secure long-term growth opportunities.
The coming months are expected to be critical, when the outcomes of these negotiations could redefine India’s role in the global trade architecture and shape its economic trajectory for the next decade.
India and the US were initially aiming to complete the first tranche of an India-US bilateral trade agreement by fall of 2025, but new developments in the US trade policy landscape, that include tariffs, have altered those plans.
The BTA, formally proposed in February following directives from the leadership of both nations, seeks to more than double bilateral trade, from the current USD 191 billion to USD 500 billion by 2030. Talks were first announced during Prime Minister Narendra Modi’s visit to Washington in February 2025.
US exports have grown year-on-year in the first nine months of the (fiscal) year, Agrawal told reporters, adding total exports could be more than $850 billion in the current fiscal year ending March.
Meanwhile, according to the latest official data from the Ministry of Commerce and Industry, India’s merchandise trade deficit widened slightly in December 2025, driven by a strong rise in imports even as exports remained broadly flat.
India’s goods exports in December 2025 stood at $38.51 billion, which is 1.86% higher than the $37.8 billion recorded in the same month last year. In contrast, imports jumped to $63.55 billion, compared with $58.43 billion in December 2024.
(With Inputs from Agencies)
Click here to add News18 as your preferred news source on Google.
January 15, 2026, 16:29 IST
Read More
Business
Top stocks to buy today: Stock recommendations for April 24, 2026 – check list – The Times of India
Stock market recommendations: Bharat Electronics, and Colgate-Palmolive (India) have been recommended as the top stocks to buy today (April 24, 2026) by Bajaj Broking Research. Take a look at the target prices and expected returns:Bharat ElectronicsBuy in the range of ₹ 440.00-450.00
The stock is in structural up trend forming higher high and higher low in all time frame signaling strength and continuation of the uptrend. The entire up move of the last 8 months is in a rising channel as can be seen in the chart highlighting sustained demand at an elevated level.On the smaller time frame, the stock is at the cusp of generating a breakout above the bullish Flag like formation as post a sharp up move in the first 3 weeks of April the stock went into a consolidation phase in the last four sessions. It is seen resuming up move and is at the cusp of generating a breakout above the bullish Flag formation highlighting continuation of the up move and offers fresh entry opportunity.We expect the stock to extend the up move and head towards 495 levels in the coming months being the confluence of the 123.6% external retracement of the previous decline 473 – 400 and the upper band of the rising channel of the last 8 months.Colgate-Palmolive (India)Buy in the range of 2120-2160
The share price of Colgate-Palmolive has generated a breakout above bullish Flag pattern signaling continuation of the up move and offers fresh entry opportunity.We expect the stock to head higher towards 2330 levels in the coming months being the measuring implication of the bullish flag breakout.The daily 14 periods RSI is in buy mode thus supports the positive bias in the stock.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
It is unusual for a senior figure at the Bank to be so forthright on market movements.
Source link
Consumer confidence has fallen for the third consecutive month amid household “jitters” over rapid price rises, figures show.
GfK’s long-running consumer confidence index fell four points to minus 25 in April, following falls of two points and three points in March and February respectively.
The deepening concern was driven by perceptions of the UK economy, with a six-point slide in confidence for the next 12 months to minus 43, its lowest level since February 2023.
Confidence in personal finances over the coming year fell five points to minus four – one point lower than this time last year.
The major purchase index – an indicator of confidence in buying big ticket items – held steady, albeit at minus 18 but one point better than last April.
The only measure to improve was the savings index – often an indication that households are concerned about their finances and looking to build contingency funds – which is up five points to 32.
Neil Bellamy, consumer insights director at GfK, said: “Consumers really do have the jitters now.
“It is a year since we last saw a monthly drop of this size, and we have to go back to October 2023 to find the last time consumer confidence was lower.
“Everyone is grappling with rapid price rises, especially at the fuel pumps, which are taking a dent out of household budgets, and people know further price hikes are coming.
“Consumer confidence is deteriorating sharply, with fuel prices and threats of more energy price increases acting as constant reminders of inflation.
“While the Gulf crisis is intensifying pressures, much of the current strain reflects earlier domestic cost increases.
“How long can all this disruption and pain continue?”
UK’s clothing exports down 7.6% to $293 mn in Jan-Feb
Top stocks to buy today: Stock recommendations for April 24, 2026 – check list – The Times of India
Mariska Hargitay expresses love for Christopher Meloni’s ‘Law & Order’ series
-
Fashion1 week agoFrance’s LVMH Q1 revenue falls 6%, shows resilience amid Iran war
-
Entertainment1 week agoIs Claude down? Here’s why users are seeing errors
-
Sports1 week agoPSL 11: Peshawar Zalmi win toss, opt to field first against Quetta Gladiators
-
Tech1 week agoThe Deepfake Nudes Crisis in Schools Is Much Worse Than You Thought
-
Business1 week agoStandard Life buys rival in £2b deal to create savings giant
-
Tech1 week agoCYBERUK ’26: UK lagging on legal protections for cyber pros | Computer Weekly
-
Fashion1 week agoRaymond unveils luxury Chairman’s Collection Store in Mumbai
-
Business1 week agoPepsiCo earnings beat estimates as North American food business improves