Progressive Steps Toward a US-India Trade Pact

India and the US are advancing towards an interim trade deal, potentially concluding by June 25. Both nations aim to finalize the first phase of a new bilateral trade agreement by September-October, addressing tariffs and expanding trade cooperation. Strategic negotiations may transform challenges into new market opportunities.

A team of US officials is slated to visit India next month, signaling a potential interim trade deal by June 25, sources disclose. Talks have been gaining momentum, suggesting significant progress in negotiations.

India's lead negotiator, Rajesh Agrawal, recently completed discussions with his US counterpart in Washington. Commerce and Industry Minister Piyush Goyal also visited, reinforcing discussions with US Commerce Secretary Howard Lutnick.

Both countries are targeting a September-October timeline to conclude the first phase of a bilateral trade agreement, with tariffs being a central focus. Discussions highlight India's substantial trade surplus with the US, renewed tariff exemptions, and ambitious trade growth targets by 2030.

(With inputs from agencies.)