India is currently engaged in discussions with the United States to reduce average applied tariffs, with the aim of advancing a mutually beneficial trade relationship, sources told CNBC-TV18. This development is seen as part of India's broader effort to lower tariffs through a series of bilateral trade agreements, following similar steps with countries like Australia, the UAE, Switzerland, and Norway.
Commerce and Industry Minister Piyush Goyal was leading an Indian delegation to Washington, D.C., from March 3-6, 2025, for talks with US Commerce Secretary Howard Lutnick and US Trade Representative Katherine Tai. The discussions mark the beginning of what is expected to be a long-term negotiation process toward a comprehensive Bilateral Trade Agreement (BTA), with both countries aiming to finalise the deal by the fall of 2025.