Afraid of our talent, says Goyal on H-1B row ahead of talks

Ahead of his trade talks with the US on Monday, Union Commerce and Industries Minister Piyush Goyal has said the world is “a little afraid of our talent” in an apparent reference to President Donald Trump’s decision to significantly raise the H-1B visa fee to $1,00,000 targeting high-skilled workers from countries primarily India.

“They want to increase trade with India. They want to improve relations,” Goyal said on his X handle, adding: “They are also a little afraid of our talent. We have no objection to that either.”

He urged the Indian talent to “come to India, innovate here, design here”, emphasising that it would accelerate economic growth.

Goyal prefaced the comment by noting global interest in free trade agreements with India, underscoring the nation’s economic momentum. India’s GDP grew 7.8 per cent in the first quarter of 2025, surpassing economist forecasts, and Goyal invoked Prime Minister Narendra Modi’s vision of a developed India by 2047 as a rallying cry.

Goyal is leading a high-level delegation to the US to take forward negotiations for a bilateral trade agreement, building on “positive and constructive” talks held with Chief Negotiator Brendan Lynch in New Delhi on September 16.

The visit follows a round in Washington with Commerce Secretary Howard Lutnick in May and aligns with a February summit between PM Modi and President Trump, which set an ambitious target to double the bilateral trade to $500 billion by 2030.

Goyal is being accompanied by Special Secretary in Commerce Ministry and India’s Chief Negotiator for the trade pact Rajesh Agrawal along with other officials from the ministry. He is expected to meet Lutnick and Trade Representative Jamieson Greer.

Sources indicate the delegation’s agenda includes bridging gaps on tariffs, intellectual property, and market access, with both sides committed to wrapping the first tranche of the deal by late 2025.

The ties between the two countries hit a low when a planned US delegation visit to New Delhi for the sixth round of negotiations from August 25 to 29 was abruptly deferred amid escalating tensions.

On Saturday, the Ministry of Commerce and Industries said “the delegation plans to take forward the discussions with a view to achieving early conclusion of a mutually beneficial trade agreement”.

This marks a significant step toward mending strained trade ties between the two countries in the backdrop of 50 per cent tariffs imposed by the US on select goods, including 25 per cent penalty linked to India’s oil purchases from Russia.

According to analysts, the tariffs will impact nearly $48 billion of India’s exports to the US and may shave 0.5 per cent off its GDP.

India’s exports to the US fell to $6.86 billion in August from $8.01 billion in July, ministry data showed. Exporters have warned the full impact of higher tariffs will be felt from September as the additional 25 per cent duties kicked in only at the end of August.