India’s Trade Minister Piyush Goyal has signaled a cautious approach following the US Supreme Court’s striking down of Trump-era tariffs. In ongoing talks with US Commerce Secretary Howard Lutnick, India aims to safeguard national interests while exploring deeper trade ties. The evolving situation could reshape bilateral economic dynamics.
India’s trade policy is entering a pivotal phase as Union Commerce Minister Piyush Goyal confirmed that New Delhi will “wait and watch” developments on US tariffs while ensuring India’s best interests remain protected.
Key highlights from the evolving dialogue:
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Strategic patience: India is refraining from immediate policy shifts, signaling a measured response to global tariff changes.
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High-level engagement: US Commerce Secretary Howard Lutnick made an unscheduled visit to New Delhi, holding a “productive” lunch meeting with Goyal.
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Reset in trade talks: The discussions come days after the US Supreme Court invalidated former President Donald Trump’s sweeping global tariff regime, opening space for recalibrated negotiations.
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Focus areas: Both sides emphasized strengthening economic partnerships, resilient supply chains, and reciprocal market access.
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India’s stance: Goyal reiterated that India will prioritize protecting domestic industries while remaining open to constructive dialogue with Washington.
This evolving scenario could mark a turning point in India-US trade relations, potentially unlocking new opportunities for Indian exporters while balancing sensitive sectors. Businesses across textiles, machinery, and agriculture are closely watching for tariff adjustments that could reshape competitiveness in the $30-trillion US market.
Sources: Hindustan Times, U.S. News & World Report, Mathrubhumi English