India and US Near Major Trade Agreement Amid EU Deal

India and the US are making significant progress toward a bilateral trade deal, even as India finalizes a major trade agreement with the European Union. The US market remains crucial for India. Sources emphasize that the EU deal is not a response to US tariffs, but rather beneficial for both economies.

India and the United States are reportedly on the brink of striking a major trade agreement, according to sources familiar with the discussions. This development comes as India successfully wraps up a significant trade deal with the European Union, highlighting New Delhi's ambition to expand its export markets.

Officials close to the negotiation have stated that the EU trade pact should not be interpreted as a reaction to strained US trade relations. The American market remains a key focus for India's export strategy, amid ongoing talks with US counterparts to finalize their deal.

The trade agreement with Europe promises to slash tariffs on both sides, benefiting sectors such as textiles and automotive industries. As global trade dynamics shift, India remains determined to foster economic growth through strategic partnerships with both the US and the EU.

(With inputs from agencies.)