As the India-US trade talks resumed earlier this week and began moving in the right direction, commerce industry minister Piyush Goyal is expected to visit Washington soon, news agency PTI reported, citing sources.
The development comes against the backdrop of the recently concluded talks between India's chief negotiator Rajesh Agrawal and his US counterpart Brendan Lynch on the proposed bilateral trade agreement (BTA).
"The commerce minister's visit is likely soon... may be in the next few days... for the trade talks," sources told PTI.
On September 16, the commerce ministry issued a statement on the resumed trade talks and said, "It was decided to intensify efforts to achieve early conclusion of a mutually beneficial trade agreement."
On Friday, the external affairs ministry also affirmed that India and the US have agreed to intensify efforts for the early conclusion of a mutually beneficial trade agreement.
MEA spokesperson Randhir Jaiswal described the discussions between the Indian and the US side as "positive and forward-looking".
The US embassy had also said that Lynch had a "positive meeting" with his counterpart to discuss the "next steps in bilateral trade negotiations".
Since March, India and the US have held five rounds of talks on the BTA. However, the American side pulled out of the sixth round of talks amid increased criticism from US officials over India's energy and military purchases from Russia.
US President Donald Trump's decision to double tariffs on India by imposing an additional 25 per cent levy, taking the total to 50 per cent, also triggered the tense ties between the two nations.
However, things started to look up after Trump and Prime Minister Narendra Modi shared a series of mutual-admiration posts on social media. Soon after, the recent trade talks in New Delhi took place.
The US President, on Thursday, during his state visit to the United Kingdom, once again highlighted his ties with India and said he is "very close" to PM Modi.
He made the remarks while referring to Europe's purchase of Russian oil and citing the example of his high tariffs on India.
Trump also mentioned the phone call he made to PM Modi on his birthday eve, saying he spoke to the Indian prime minister "the other day" and extended his birthday wishes.
"And when I found out that the European nations were buying oil from Russia, and as you know, I'm very close to India. I'm very close to the Prime Minister of India, I spoke to him the other day to wish him a Happy Birthday. We have a very good relationship and he put out a beautiful statement too. But I sanctioned them," the US President said.
Meanwhile, Chief Economic Adviser (CEA) V Anantha Nageswaran said on Thursday that the penal tariff imposed on Indian imports by the US government may be withdrawn after November 30. He expressed optimism that trade ties between the two countries will witness significant improvement.
"All of us are already at work, and I will take some time to talk about the tariff here. Yes, the original reciprocal tariff of 25 per cent plus the penal tariff of 25 per cent both were not anticipated. I still believe that geopolitical circumstances may have led to the second 25 per cent tariff, but considering recent developments in the last couple of weeks and so on, I do believe that and I have no particular reason to say so it is my intuition that I do believe the penal tariff will not be there after November 30," he was quoted as saying by news agency ANI.