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India and the US have targeted to increase bilateral trade from the current $ 191 billion to $ 500 billion by 2030.
India is constantly talking to the US for free trade agreement. Union Commerce and Industry Minister Piyush Goyal said at an event on Wednesday that ‘active talks’ about the agreement between the two countries is going on.
He also said that negotiations with EU team are going on in Delhi to finalize the trade agreement with the European Union. Apart from this, India is also talking to New Zealand for a trade agreement.
This statement came at a time when today US President Donald Trump and Prime Minister Narendra Modi have indicated improvement in business relations.
Trump said-Modi good friends, will talk to him on trade barrier
Today, US President Donald Trump said that he is confident that the ongoing talks between Washington and Delhi will soon reach a better result. Trump said that he will talk to Prime Minister Modi in the coming weeks to finish all kinds of trade barriers.
Trump wrote in a post on Truth Social, ‘I am happy to say that talks are going on between India and America to remove the trade barrier. In the coming weeks, I am eager to talk to my very good friends, PM Modi. I am confident that there will be no problem for both great countries to reach a successful result.
In response, PM Modi also wrote in an X post, ‘India and America are good friends and natural partners. I am confident that our trade negotiation will make a way to open the unlimited possibilities of Indo-US partnership. Our teams are working hard to complete these discussions as soon as possible.
During the meeting at Washington DC in February, Trump and Modi targeted to double the bilateral trade by 2030.
Dispute between India and US over dairy products
The US wants its dairy products such as milk, cheese, ghee to be imported into India. India is the largest milk producing country in the world and crores of small farmers are engaged in this sector.
The Indian government is afraid that if American dairy products come to India, they can cause huge damage to local farmers. Apart from this, religious sentiments are also attached.
In the US, cows are added to animal bones (eg ranet) to their food for better nutrition. India considers the milk of such cows as ‘non -veg milk’ ie non -vegetarian milk.
India’s condition is that any dairy product can only be sold in India when it is proved that it is made from a vegetarian source.
India said- will compromise on interests
On Independence Day, Prime Minister Narendra Modi had reiterated the resolve to promote ‘indigenous’ products and protect the interests of farmers, fishermen and cattle ranchers. He said, “India will not compromise on the interests of its farmers and cattle ranchers.”
Target to $ 500 billion by 2030 by 2030
India and the US aims to increase bilateral trade from the current $ 191 billion to $ 500 billion by 2030.
According to Commerce Ministry data, India’s exports to the US increased by 21.64% to $ 33.53 billion in April-July 2025, while imports increased by 12.33% to $ 17.41 billion.
The US was India’s largest trading partner during this period, with a trade of $ 12.56 billion. India’s exports to the US have been continuously increasing since April.
Total 50% tariff on India
US President Trump announced to impose 25% extra tariff on India on 6 August. This order was implemented from August 27.
The executive order states that this action has been taken on India due to Russian oil purchases. Earlier, he announced 25% tariff on India on 30 July. Now India is feeling a total of 50% tariff.
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