Commerce Minister says 99% of issues have been resolved, with both countries edging closer to a pact aimed at boosting bilateral trade to $500 billion by 2030….
India and the United States are on the verge of sealing the first phase of a long-awaited trade agreement, with New Delhi revealing that negotiations have been largely completed and only a handful of issues remain unresolved.
Indian Commerce Minister Piyush Goyal said discussions between both sides have reached an advanced stage, with nearly all key concerns addressed ahead of the expected signing of the initial agreement.
“About 99 percent of the issues have been settled,” Goyal told journalists in New Delhi, expressing confidence that the first tranche of the bilateral trade deal would soon be finalized.
His comments came as a US delegation led by Brendan Lynch, Assistant US Trade Representative for South and Central Asia, arrived in India for a fresh round of negotiations aimed at concluding the remaining aspects of the pact. The discussions are scheduled to run for three days.
According to Goyal, negotiators are now focusing on final adjustments to the agreement, including revisions required by recent legal developments in the United States.
“Discussions are continuing on minor details, essentially the commas and full stops,” he said, suggesting that the framework of the deal has already been agreed upon by both sides.
The trade negotiations trace their roots to an understanding reached in February, when Washington and New Delhi agreed to pursue a broader economic partnership. However, momentum slowed after legal challenges disrupted parts of President Donald Trump’s tariff agenda.
Following a ruling by the US Supreme Court that affected key tariff measures, the Trump administration launched fresh investigations into what it described as unfair trade practices by several countries, including India, while maintaining a general 10 percent tariff on imports.
Despite those developments, both governments have continued negotiations, viewing the agreement as a strategic step toward deepening economic cooperation.
The proposed deal forms part of a wider ambition by Washington and New Delhi to expand bilateral trade to $500 billion by the end of the decade. Since March, officials from both countries have held multiple rounds of talks focused on resolving long-standing disagreements over tariffs, market access and trade barriers.
Indian officials have maintained that the agreement safeguards sensitive sectors such as agriculture and dairy, while providing domestic businesses with greater access to one of the world’s largest consumer markets.
Last week, US Ambassador Sergio Gor signaled that progress had accelerated, saying he expected an interim agreement to be signed within the coming weeks.
If finalized, the deal would mark a significant milestone in US-India economic relations and could pave the way for a broader trade framework covering additional sectors in the years ahead.
