Piyush Goyal set to visit US as trade talk momentum grows

COmmerce and manufacture government minister Piyush Goyal is expected to see the US before long for merchandise talks, people aware of the matter said on Friday, as negotiations between New Delhi and Washington appear to be gaining momentum following recent positive diplomatic exchanges.“The commerce minister’s visit is likely soon... May be in the next few days... For the trade talks,” reported news agency PTI, quoting unnamed sources.People familiar with the matter separately said that Goyal will likely leave early next week along with a team comprising special secretary, commerce, Rajesh Agrawal.The visit follows day-long discussions on Wednesday between US chief negotiator Brendan Lynch and his Indian counterpart Agrawal on the proposed bilateral trade agreement (BTA) in New Delhi.The commerce ministry, following the Wednesday meeting, stated that discussions with the American team were positive, with both sides agreeing to push for an early and mutually beneficial conclusion of the agreement.“It was decided to intensify efforts to achieve early conclusion of a mutually beneficial trade agreement,” the ministry said after the seven-hour meeting.The talks were the first high-ranking US trade visit since the sixth round of negotiations scheduled for August 25 in New Delhi was postponed following the tariff escalation. The US had imposed a 25% reciprocal tariff that took effect August 7, followed by an additional 25% levy as penalty for Russian oil purchases that kicked in August 27, bringing the total rate to 50%.While August marked a sharp escalation in the rhetoric from Washington, there has since been a stark diplomatic turnaround in recent weeks.Last week, Trump’s nominee for ambassador to India, Sergio Gor, told senators that negotiations had reached the “nitty gritty” stage and could be resolved within weeks, describing the Trump-Modi relationship as “incredible” and unique.He said that US President Donald Trump had invited the Indian commerce and trade minister to Washington for talks with US trade representative Jamieson Greer, though the Indian government did not comment on any such development when reached by HT.This week, president Trump called Prime Minister Narendra Modi on Tuesday to wish him a happy 75th birthday, thanking the Indian premier for his support in efforts to end the Ukraine war. The conversation marked their first contact since June.Trump then reiterated in the UK, on Thursday, that he was “very close to India, very close to Modi,” whilst Modi expressed commitment to taking the “India-US Comprehensive and Global Strategic Partnership to new heights.”