India, US fine-tuning trade deal after concluding most discussions, says minister Piyush Goyal
The proposed trade agreement could give Indian exporters greater certainty on US tariffs as New Delhi pursues preferential access to economies accounting for a majority of global GDP.
India and the United States have reached most of the discussions on a proposed trade agreement, according to Commerce and Industry Minister Piyush Goyal. The minister made the announcement at the India-Netherlands Business Forum in The Hague. Goyal stated that India's expanding network of trade agreements would provide greater predictability for exports facing shifting US tariff policies.
The US Secretary of State Marco Rubio recently mentioned that both countries were "very, very close" to finalizing the deal, with a few issues left to resolve. Goyal highlighted that India's trade agreements would grant it preferential access to economies accounting for 76% of global GDP. Bilateral trade between India and the US grew by 6.53% to $140.76 billion in fiscal year 2026 (FY26), with the trade surplus narrowing to $33.9 billion.
The proposed agreement aims to provide stability amidst global supply chain disruptions and a broader global slowdown.
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