Highlights:
INDIA’S commerce and industry minister, Piyush Goyal, is expected to visit the US next month for the G-20 Trade Ministerial in Milwaukee, Wisconsin, an official said.
The two-day ministerial will begin on September 30 and Goyal will hold meetings with his counterparts on the sidelines of the ministerial to discuss ways to boost two-way commerce and investments.
The US holds the G20 presidency this year and president Donald Trump will host the culminating Leaders’ Summit on December 14-15 at Trump National Doral in Miami.
Goyal’s visit to the US is important as the two countries are negotiating a bilateral trade agreement (BTA).
In February, both sides announced finalization of the framework for the first phase of the pact, but changes in US tariffs have led to further negotiations between the two countries.
Goyal recently said the first tranche of the bilateral trade agreement between India and the US will come into operation as soon as the US is able to ensure that India gets a comparative advantage over its competitors.
Jamieson GreerLudovic Marin/Getty Images
India exported goods worth about USD 87 billion to the US in 2025-26.
In a statement in May, US Trade Representative Jamieson Greer said at the G20 Trade Ministerial this fall, USTR will lead discussions with the ministers on an array of issues, including ending forced labor, updating the Most-Favored Nation (MFN) Principle, denouncing weaponization of trade in food, and addressing structural excess capacity and production.
The US has imposed an additional 10 per cent tariff on a number of countries, including India, from July 24. Countries including Sri Lanka, Bangladesh, Thailand, Cambodia, Vietnam, Indonesia and Malaysia are major competitors of India in the US market.
The G20, or Group of Twenty, brings together the world’s major advanced and emerging economies to discuss and coordinate economic policy.
Its participants represent about 85 per cent of global GDP and two-thirds of the world’s population.
