India-US Trade Deal Nears Final Stage as Fine-Tuning Continues: Goyal
India and the United States have concluded most discussions on their proposed bilateral trade agreement, with negotiations now focused on fine-tuning the remaining details, Commerce and Industry Minister Piyush Goyal said.
The development signals progress towards finalising a trade pact aimed at strengthening economic ties, improving market access and providing greater certainty to businesses in both countries. However, the agreement is yet to be formally concluded, as both sides continue working on the final terms.
The proposed deal has been under negotiation for more than a year, with tariff arrangements and preferential market access emerging as key issues. India has maintained that the agreement must provide its exporters with a competitive advantage over rivals such as Vietnam, Bangladesh and Indonesia.
The first phase of the trade agreement has entered the legal drafting stage, with officials expressing optimism about concluding the process at the earliest possible time.
The negotiations gained momentum after US President Donald Trump and Secretary of State Marco Rubio recently indicated that the two countries were close to reaching an agreement. Rubio said most of the work had been completed, although certain technical and legal details remained unresolved.
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Trade relations between the two countries have faced challenges following Washington's decision to impose higher tariffs on Indian goods in 2025. An interim framework announced in February 2026 envisaged reducing US tariffs on most Indian goods from 50% to 18%, although the agreement remains subject to finalisation.
India is seeking favourable terms that would protect its exporters and ensure stable access to the American market. The final outcome is expected to depend on resolving outstanding issues and formalising the tariff structure.
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The United States remains an important trading partner for India, making the proposed agreement significant for exporters, manufacturers and businesses seeking to expand bilateral commerce.
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While Goyal's latest remarks indicate that negotiations have advanced substantially, a formal announcement will depend on both governments completing the remaining work and agreeing on the final terms of the pact.