First tranche of India-US trade deal finalised: Piyush Goyal

Union Commerce Minister Piyush Goyal said on Thursday that the first phase of a trade deal between India and the United States has been finalised and is undergoing legal drafting.  We hope to be able to finalise that soon and operationalise that once we get comparable advantage or competitive advantage over our peer countries, Goyal said while  addressing the SRCC Centenary Conclave in Delhi.
Commerce Secretary Rajesh Agrawal also said that the negotiations on the US trade pact are moving in the right direction. "Probably we are in a very good zone. We anticipate closing the deal and signing the deal at the earliest possible time," he told reporters in New Delhi. Agarwal added that the trade deal has to be signed when the overall tariff structure would be formalised in the US. "So there is a parallel work being done in the US also to get back the tariff structure and based on some of the outcomes under (Section) 301, we will progress towards signing the deal at a mutually agreed time," he said.
India and the US have been in talks since early 2025 on the proposed trade pact to address tariff friction, eliminate non-tariff barriers, and boost bilateral market access.