India, US likely to sign 1st tranche of trade deal by July: Piyush Goyal
New Delhi, June 8
India could sign the first tranche of its long-awaited bilateral trade agreement with the United States as early as July, Commerce and Industry Minister Piyush Goyal said on Monday.
Speaking to media on the sideline of an event, Goyal further indicated that negotiations between the two countries are nearing a crucial stage despite recent tariff-related concerns.
The minister's remarks have raised expectations of an early breakthrough in trade talks that have been underway for months, with both sides seeking to strengthen economic ties and improve market access for businesses.
The proposed agreement is expected to provide a significant boost to bilateral trade and enhance opportunities for Indian exporters in key sectors.
Speaking about the progress of the negotiations, Goyal suggested that discussions between officials from India and the United States have advanced considerably in recent weeks and that efforts are underway to resolve the remaining issues.
The latest comments build on statements made by the minister last week, when he highlighted the rapid pace of engagement between the two countries.
On June 5, Goyal said that a full team of US trade officials had visited New Delhi and held extensive discussions with their Indian counterparts to push the negotiations forward.
"We had a full team of officials from different divisions of trade from the U.S. in Delhi," Goyal had said.
According to the minister, both sides are working to close the remaining gaps in the proposed agreement and are focused on reaching a mutually beneficial outcome.
He had expressed confidence that the first phase of the trade pact could be finalised by the middle of July, describing it as a "very vibrant first tranche" that would lay the foundation for deeper economic cooperation between the two countries.
The proposed trade agreement is seen as a key step in expanding India-US economic relations at a time when both nations are looking to diversify supply chains, increase investment flows and strengthen strategic partnerships across sectors.
If concluded, the initial tranche could pave the way for a broader and more comprehensive trade framework in the future.
— IANS
Reader Comments
Finally some positive news on trade! 🇮🇳🤝🇺🇸 This could be a win-win if it helps Indian pharma and IT services get better access to US markets. The tariff uncertainty was hurting our exporters. Hope July deadline is realistic.
As an American living in Bangalore for work, I think this deal makes sense for both sides. The supply chain diversification talk is real—many US companies want to reduce China dependency, and India has the talent and scale. But US needs to be more flexible on visas for Indian professionals too.
I remember similar announcements in the past that didn't materialize. Let's wait and watch. The US has its own election cycle to think about, and trade deals often get politicized there. Hope this time it's different, but I'm not holding my breath. 😅
This is great for our startup ecosystem! Indian SaaS and tech companies need better market access in the US. Also, if it leads to more American investment in manufacturing here, that's jobs for our youth. But please, no more IPR concessions that hurt our generic medicine industry.
Ji, only question is—what are we giving in return? US wants everything from lower tariffs on almonds and apples to more access in legal and accounting. Meanwhile, our textile and leather exporters are struggling. Hope the ministry has done proper cost-benefit analysis. Bharat first! 💪
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