Daijiworld Media Network - New Delhi
New Delhi, Aug 14: Commerce Secretary Sunil Barthwal said on Thursday that India remains actively engaged with the United States on finalising a bilateral trade agreement, with clarity on the next round of talks expected by the end of August.
Despite global uncertainty, India’s exports — both services and merchandise — have shown significant growth. Merchandise exports rose 7.29% in July to $37.24 billion, up from $34.71 billion in the same month last year.
Barthwal highlighted that engineering goods, electronics, pharmaceuticals, chemicals, and gems and jewellery were the top contributors to this growth. He also noted that exporters accelerated shipments ahead of the US tariff hike that took effect this month.
From April to July in the current financial year (2025–26), exports grew 3.07% to $149.2 billion, while imports increased 5.36% to $244.01 billion.
India is continuing trade talks with the US even as tensions rise due to Washington’s latest move to impose an additional 25% tariff on Indian goods in response to India’s ongoing oil trade with Russia — bringing the total tariff burden on Indian exports to 50%.
The Indian government has reiterated that trade is just one part of its broader, multi-layered relationship with the US, which also includes key strategic and geopolitical ties. The Parliamentary Standing Committee on External Affairs has been informed that there’s no change in plans for the sixth round of bilateral trade negotiations.
Prime Minister Narendra Modi recently asserted that India would never compromise on the interests of its farmers, fishermen, and the dairy sector — even if it came at personal political cost.
Foreign Secretary Vikram Misri also reaffirmed India’s commitment to its US partnership, while Barthwal emphasised that trade dialogue is very much alive.
In response to the tariff challenges, the Indian government is now pushing to diversify its export markets and accelerate trade agreements with multiple regions — including the EU, UK, EFTA, Oman, ASEAN, New Zealand, Peru, and Chile — while reviewing existing pacts.