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Informist, Wednesday, Jun. 24, 2026

 

NEW DELHI – Negotiations to finalise an interim trade deal between India and the US are advancing in a constructive and forward-looking manner, Commerce Minister Piyush Goyal said Wednesday, as he concluded a series of meetings with the visiting US delegation led by its trade representative Jamieson Greer. 

 

"We reviewed progress of the ongoing India–US trade discussions and explored avenues to further deepen our economic partnership," Goyal said on social media platform X. "I appreciate Ambassador Greer's leadership and the sustained efforts of both teams in advancing our discussions in a constructive and forward-looking manner."

 

India and the US had on Feb. 7 issued a joint statement, agreeing on a framework for an interim agreement for mutually beneficial trade, but are yet to finalise the first phase of the trade agreement. US Trade Representative Jamieson Greer visited India from Monday to Wednesday. On Jun. 5, Goyal said he expected India and the US to close the first tranche of the proposed trade agreement by mid-July.

 

Goyal and Greer conducted a comprehensive review of core bilateral trade agreement elements, including enhanced market access, digital trade, supply chain resilience, reduction of non-tariff barriers, and expanded cooperation in strategic sectors, the commerce ministry said in a press release.

 

Both sides noted "substantial progress" by negotiating teams in recent months and welcomed the momentum from successive technical and ministerial-level engagements while also reaffirming their commitment to an agreement that is balanced, commercially meaningful, and delivers tangible benefits for businesses, farmers, workers, and consumers in both the countries.

 

"Discussions focused on pathways to conclude an interim agreement as an important milestone toward a comprehensive BTA (bilateral trade agreement)," it said. Both the parties also reiterated their shared goal of expanding bilateral trade, fostering innovation, and building resilient, trusted supply chains, while expressing confidence that ongoing negotiations will further deepen economic ties and strengthen the India–US Comprehensive Global Strategic Partnership.

 

Despite the 50% tariffs imposed on India for a large part of 2025-26 (Apr-Mar), India's trade with US remained robust. The US was India's biggest trade partner in FY26, with total trade of $132.14 billion. India exported goods worth $86.51 billion to the US and imported $45.63 billion worth of goods from the world's largest economy.  End

 

US$1 = INR 94.67

 

Reported by Pratiksha

Edited by Akul Nishant Akhoury

 

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