More Stories

Informist, Thursday, Oct. 9, 2025

 

--PM Modi: Reviewed good progress in India, US trade talks with Trump

--PM Modi: Agreed to stay in close touch with US Trump in coming weeks

 

NEW DELHI – Prime Minister Narendra Modi and US President Donald Trump Thursday reviewed the "good progress" achieved in the much-talked-about trade negotiations between the two countries, Modi said in a post on X. "Agreed to stay in close touch (with President Trump) over the coming weeks," he said. 

 

The course of trade negotiations between India and the US has seen considerable ebb and flow in the last seven months, with the two sides hitting a stalemate in August over disagreement on opening India's farm sector. The trade negotiations resumed in September. But with the government shutdown in the US, the future course of talks remains uncertain.

 

The two leaders' agreement to remain in "close touch" brings hope to exporters who are currently feeling the heat of Washington's 50% tariff on Indian goods. Citing displeasure over the high trade gap, the US has imposed 25% reciprocal tariffs on India, with an additional 25% as punitive tariff for economic ties with Russia, which took effect on Aug. 27.

 

The US is India's top export destination, accounting for nearly 20% of India's total exports. The tariffs cast a long shadow on over $50 billion of Indian exports from labour-intensive sectors like textiles, gems and jewellery, marine products, furniture and bedding, among others. In 2024-25 (Apr-Mar), India had exported $86.51 billion of goods to the US, and had a trade surplus of $40.82 billion with the US. 

 

Last month, Commerce Minister Piyush Goyal had visited Washington and met US Trade Representative Jamieson Greer. After the visit, the commerce ministry, in a statement, had said that both sides exchanged views on the contours of the deal and decided to continue the engagements with a view to achieving early conclusion of a mutually beneficial trade agreement.

 

The recent political development in the US, the government shutdown that begun on Oct. 1, has added another spoke in the wheel for the trade negotiations. The US government went into shutdown after the Congress failed to pass a funding bill. This means US government workers will not get paid for now, and service centres will stay closed during the period. Only essential services like the postal service, defence, and social work are operational.

 

Minister Goyal on Wednesday said that India is assessing the impact of the situation on ongoing trade talks and may get clarity on the matter in a week.  End

 

US$1 = INR 88.78

 

Reported by Priyasmita Dutta

Edited by Tanima Banerjee

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2025. All rights reserved.