Overview
- India is assessing how the US funding lapse could affect scheduling of negotiations, with Piyush Goyal indicating guidance on the way forward should arrive within a week.
- Officials remain in continuous contact on a phased bilateral trade pact, and Goyal says there is still a possibility of meeting the November 2025 target for a first tranche.
- The shutdown has left the timing, venue, and format of the next round uncertain, with discussions to adapt to US government processes.
- Five formal rounds have been completed as both sides work toward expanding bilateral trade, including a longer‑term goal of reaching $500 billion by 2030.
- Recent talks in New York included USTR Jamieson Greer and ambassador‑designate Sergio Gor, following US tariff actions totaling 50% on some Indian goods tied to Russian crude purchases.