Expectations for a landmark India-US trade agreement are surging as top officials signal that negotiations have entered their final stretch.
External Affairs Minister S Jaishankar stated at the Hindustan Times Leadership Summit 2026 that the bulk of issues have been resolved, noting that remaining concerns primarily lie on the American side.
Commerce and Industry Minister Piyush Goyal echoed a similar sentiment, stating an official announcement could arrive “quite soon” following smooth negotiations across trade, technology, and defence sectors. US Ambassador to India Sergio Gor also confirmed that officials are working to cross the finish line.
According to reports, the first phase of the agreement will centre exclusively on goods, leaving services for subsequent talks. While the United States has assured India of lower tariffs than trading peers, New Delhi has maintained strict boundaries. Goyal reiterated that India will not compromise on sensitive sectors, confirming that dairy, agriculture, and genetically modified products will remain protected.
The framework for this initial phase was first established in February, though finalisation faced delays due to evolving tariff landscapes and US trade investigations. Alongside trade discussions, Jaishankar also addressed global geopolitical shifts, pointing to US-China rivalries and ongoing conflicts in West Asia and Ukraine.
