India and the United States are actively engaged in discussions regarding a Bilateral Trade Agreement (BTA), with hopes of concluding negotiations by November. Union Commerce and Industry Minister Piyush Goyal confirmed on Tuesday that talks are ongoing at various levels, although he did not provide a specific timeline for completion. He stated, "Our talks with the United States are ongoing continuously. Contacts are maintained at different levels. We never negotiate based on deadlines. The possibilities are full. Every possibility exists."

The current US government shutdown, which began on October 1 due to Congress's failure to pass a funding bill, may impact the next round of negotiations. Goyal noted, "We will have to see how, where, and when the talks can take place."

External Affairs Minister S. Jaishankar recently emphasized the importance of respecting India's "red lines" in trade discussions, particularly concerning the interests of farmers, small industries, and fishermen. He stated, "There has got to be a trade understanding with the US. But... in any agreement, there are things you can negotiate and things you can't."

In addition to the US talks, Goyal mentioned ongoing discussions for a Free Trade Agreement (FTA) with the European Union. He expressed optimism about the partnership, highlighting India's skilled workforce and the EU's technological capabilities. Goyal said, "We are hoping to work together in a spirit of deep understanding of each other's sensitivities so that we can conclude a very equitable, fair and balanced free trade agreement."

Commerce Secretary Rajesh Agarwal is set to visit Brussels to discuss the next steps in the FTA negotiations. Goyal reiterated that while there are no fixed deadlines, efforts will be made to meet expectations and complete negotiations by the end of the year. He remarked, "I see tremendous potential and possibility."

The BTA aims to significantly increase bilateral trade, targeting a rise to USD 500 billion by 2030 from the current USD 191 billion. The US has been India's largest trading partner for the past four years, with bilateral trade valued at USD 131.84 billion in 2024-25. Goyal's recent visit to Qatar also included discussions on enhancing trade and investment ties between India and Qatar, further showcasing India's commitment to expanding its global trade relationships.