India-US discussing bilateral trade agreement: Piyush Goyal

India is negotiating a bilateral trade agreement (BTA) with the United States, Union commerce and industry minister Piyush Goyal said on Tuesday, days after Washington doubled tariffs on goods from India as a punitive measure for New Delhi's continued import of Russian oil. “We never negotiate trade deals with a deadline – we only negotiate good trade deals which are mutually beneficial," Goyal said, adding that India remains committed to ensuring fairness in all its partnerships. He further noted, “We are always open for an equitable and mutually beneficial trade deal."

#WATCH | Delhi | Union Commerce & Industry Minister Piyush Goyal says, "...India is in dialogue with the U.S. for a bilateral trade agreement..." pic.twitter.com/BrvZuudZae

— ANI (@ANI) September 2, 2025

Speaking at the 20th Global Sustainability Summit, Goyal noted that India can now deliver 24-hour renewable energy at about Rs4.60 to Rs5 per kilowatt hour (roughly five cents). “No comparable power available anywhere in the world at this price," he said. India and the US have been negotiating the pact since March. So far, five rounds of talks have been completed.