New Delhi: In a major stride toward strengthening economic relations, India and the United States are reportedly in the final stages of securing a long-discussed trade agreement that could mark a turning point in their bilateral partnership. High-level officials from both nations are currently engaged in intense negotiations in New Delhi, raising hopes that the deal might be concluded in a matter of weeks.
Speaking at the U.S.-India Strategic Partnership Forum (USISPF) in Washington on June 1, US Commerce Secretary Howard Lutnick hinted that a consensus is within reach. “You should expect a deal between the United States and India in the not too distant future because I think we found a place that really works for both countries,” Lutnick remarked during his address, suggesting significant behind-the-scenes progress.
The statement comes as an influential American delegation lands in the Indian capital for what insiders say is the conclusive round of dialogue. Officials are working against the clock to close an interim pact before the end of June, with an eye on finalising a comprehensive multi-sector agreement by early autumn.
Lutnick’s comments reflect Washington’s urgency and India’s advantageous position in the current negotiations. “Earlier countries get a better deal, that’s the way it is. So those who come in July 4th to July 9th, there’s just going to be a pile,” he stated, underlining India’s push to be among the early movers in the US’s evolving trade framework.
India’s Commerce and Industry Minister Piyush Goyal also struck a hopeful tone while addressing media in France on June 2. “Both countries are committed to work together, and both desire to give preferential access to each other’s businesses. We are working towards the bilateral trade agreement,” he said, reiterating New Delhi’s commitment to mutual market access.
The proposed agreement, originally unveiled in February during talks between Prime Minister Narendra Modi and former US President Donald Trump, aims to more than double current bilateral trade—from $191 billion to an ambitious $500 billion by 2030.
One of the key sticking points remains the 26% reciprocal tariff levied by the US on Indian goods. New Delhi is pushing hard for a full exemption, a point both sides are reportedly working diligently to resolve during this final leg of talks.
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