India and the United States are working towards finalising the first phase of their much-anticipated trade agreement by early July, marking a shift from previous plans to conclude a broader deal later in the year.
Commerce and Industry Minister Piyush Goyal is leading a high-level delegation to Washington in the coming weeks to steer negotiations forward. Sources indicate that both sides aim to finalise the deal ahead of its initial timeline, possibly within the first week of July.
This development follows the US decision on April 10 to temporarily halt new tariffs on Indian exports for 90 days, a move widely seen as a goodwill gesture to facilitate ongoing trade discussions.
US President Donald Trump highlighted India’s proposal for a trade deal that would feature “practically no tariffs” on a broad range of American products. However, External Affairs Minister S Jaishankar cautioned that negotiations remain complex, emphasising that any agreement must be mutually beneficial and fully balanced between both nations.
Trump also claimed to have played a role in easing tensions between India and Pakistan, advocating for increased trade instead of conflict.
The potential India-US trade deal is expected to have significant implications for key industries, shaping future economic ties and business collaborations between the two nations.
