Indian Team To Visit US This Week To Progress Trade Talks, Sources Say

An Indian trade mission will visit the United States this week for another round of talks, government sources told NDTV Profit on Monday.

The talks are on a positive trajectory and both sides are hopeful of concluding the first tranche of a bilateral trade agreement by the year-end deadline, they said.

India will likely offer more purchases of gas and other forms of renewable energy from the US to bridge a trade surplus Washington has complained about.

The visit is likely to be steered by Commerce Secretary Rajesh Agrawal, who was earlier the Chief Negotiator for the deal.

The rupee strengthened 11 paise to 88.59 against US dollar following the news.

The Trump administration started charging a 50% tariff on Indian goods from August, half of which is a penalty for buying Russian oil.

Last week, Prime Minister Narendra Modi spoke to President Donald Trump about the progress in the trade deal. Both countries have set an ambitious target of $500 billion in trade by 2030.