India, US Seek Early Conclusion of Interim Trade Agreement Amid Ongoing Negotiations

Commerce and industry minister Piyush Goyal held talks with US Trade Representative Jamieson Greer in Milwaukee on Wednesday, seeking an early conclusion of a mutually beneficial interim trade agreement between India and the US, hours after Prime Minister Narendra Modi and US President Donald Trump spoke over phone on bilateral ties. “Had a productive discussion with USTR Greer towards early conclusion of a mutually beneficial interim agreement under the India-US Bilateral Trade Agreement ,” Goyal said in a post on X after the meeting on the sidelines of the G20 Trade Ministers’ Meeting. The minister said the two sides also exchanged views on the G20 deliberations under the US chairship. The meeting comes as India and the US seek to advance negotiations on the broader Bilateral Trade Agreement (BTA) , with an interim agreement seen as an immediate step towards resolving key trade and market-access issues. The Goyal-Greer meeting followed the Modi-Trump phone conversation, in which the two leaders reviewed bilateral cooperation in trade, defence, energy and critical technologies. They reaffirmed their commitment to advancing the India-US Comprehensive Global Strategic Partnership and also discussed regional and international developments. The timing of the discussions is significant as uncertainty over US measures targeting countries buying Russian energy has added another layer to the trade negotiations. President Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law on September 18. The legislation provides for possible tariffs of up to 100% on imports from countries meeting specified criteria relating to purchases of Russian crude oil or natural gas. India, a major buyer of Russian crude , has been closely watching the implications of the legislation for its trade relationship with Washington. Goyal is in the US from September 29 to October 5 for the G20 Trade Ministers’ Meeting and bilateral discussions. The two countries have been negotiating the BTA for several months, with tariffs, market access and other trade barriers forming key parts of the talks. The proposed interim agreement is being pursued in line with the February 7 joint statement by Modi and Trump, which set out the framework for negotiations towards a broader bilateral trade agreement. The latest engagement between Goyal and Greer, following the leaders’ phone call, comes as both sides seek to maintain momentum in the negotiations and work towards an early interim arrangement while continuing talks on the larger BTA.