NEW DELHI – India’s trade minister Piyush Goyal has embarked on a sudden visit to the United States to engage in trade discussions, government officials said today, as concerns mount over President Donald Trump’s planned reciprocal tariffs set to take effect in early April.
Goyal, who also serves as the minister for industry, cancelled previously scheduled meetings until March 8 to make the trip. India’s trade ministry has yet to comment on the visit.
The discussions follow Prime Minister Narendra Modi’s recent US visit, during which both nations agreed to work towards a phased trade deal by the fall of 2025, with a goal of reaching $500 billion in bilateral trade by 2030.
Trump’s proposed tariffs on trading partners, including India, have raised alarms among Indian exporters across various sectors, from automobiles to agriculture. Analysts from Citi Research estimate that these tariffs could cost India approximately $7 billion annually.
During his visit, Goyal aims to gain clarity on the US tariff measures and assess their potential impact. He may also negotiate concessions to mitigate the trade fallout and explore avenues for tariff reductions to enhance trade relations.
“India is open to discussing tariff cuts on industrial products like automobiles and chemicals but remains firm on protecting its agricultural sector, citing risks to millions of small farmers,” sources said.
To ease trade tensions, India has already lowered tariffs on several items—reducing duties on high-end motorcycles to 30% from 50% and on bourbon whiskey to 100% from 150%—and has committed to reviewing other tariff structures. Additionally, India has increased energy imports and defense equipment purchases from the US.
The US is India’s largest trading partner, with merchandise trade rising by 8% year-on-year to over $106 billion in the first ten months of the fiscal year, with India maintaining a trade surplus.
Experts warn that chemicals, metal products, jewellery, automobiles, pharmaceuticals, and food products are among the most vulnerable sectors if the reciprocal tariffs are enforced. A broader tariff application on agricultural goods could severely impact India’s shrimp and dairy exports, where tariff differences with the US reach nearly 40%, according to a report by the Global Trade Research Initiative (GTRI), a Delhi-based think tank.