India and the United States are on the brink of finalizing the first phase of a bilateral trade agreement, with approximately 99% of the issues resolved, stated Indian Commerce Minister Piyush Goyal. A senior US delegation, led by Assistant US Trade Representative for South and Central Asia Brendan Lynch, arrived in New Delhi on Tuesday for three days of intensive discussions aimed at concluding the negotiations.
These talks come as both nations work to overcome the remaining obstacles and formalize the interim pact. Despite recent shifts in US tariff policies, negotiations have continued to progress steadily. Earlier this year, the two countries had reached a preliminary understanding in February, but momentum slowed after the US Supreme Court invalidated President Donald Trump’s broad tariff measures.
Following this ruling, the Trump administration launched investigations into unfair trade practices by several countries, including India, and imposed a general 10% tariff. Goyal noted on Monday evening in Delhi that negotiators are now incorporating the latest US legal developments into the final agreement text. He emphasized that nearly all issues have been settled, describing the remaining points as minor technicalities, akin to “commas and full stops.”
Looking ahead, the minister expressed strong confidence that the initial phase of the trade deal will be signed soon, with discussions on a more comprehensive agreement to follow. Recently, US Ambassador Sergio Gor suggested that the interim deal might be signed within the coming weeks.
Both Washington and New Delhi have set an ambitious goal to boost bilateral trade to $500 billion by 2030. Since March, multiple negotiation rounds have addressed market access and tariff disputes. Indian officials highlight that the agreement protects sensitive sectors such as dairy and agriculture while granting exporters access to the expansive $30 trillion US market.
