The first batch of the India-US bilateral trade agreement will be signed soon, Union Commerce and Industry Minister Piyush Goyal said on Monday. Speaking at a press conference, the BJP leader added that all the main points had been settled between the delegations.
“The leaders of the two countries have already announced the framework agreement on February 3. All the major points have been settled. The US Ambassador to India, Sergio Gore, recently said that 99% of the details have been finalized… I am quite confident that we will conclude the first tranche of the bilateral trade agreement with the US as soon as possible,” Goyal said.
Goyal’s statements come amid new talks between the Indian and American delegations. A team from the United States will arrive in India to finalize the framework of the trade deal. According to the Union Minister, the meetings between the two delegations will be held from June 2 to 4.
According to a spokesperson for the US Embassy in India, the US delegation will be headed by Assistant US Trade Representative Brendan Lynch.
The spokesperson added: “As Secretary Rubio stated during his recent visit to India, the US government seeks to conclude a trade agreement between the United States and India that is permanent, beneficial, and sustainable for both countries.”
Read also | Top Indian and US negotiators are holding four days of trade talks to finalize an interim agreement starting June 1
Last week, US envoy to India Sergio Gore stated that only one percent of the deal remained to be completed, indicating that 99 percent of the deal was ready.
“Our current interim trade agreement is on the table so that we can finalize it, and that will unlock prosperity for both our countries… India has sent a team to Washington, D.C., to finalize the last 1% of that trade deal,” Gore, while speaking on the topic “US-India Trust Initiative: Strengthening Partnership in Research and Innovation,” said.
Earlier last month, Gore also compared the negotiation period for the trade agreement and compared it to the India-EU Free Trade Agreement.
Gore stated that the negotiations between India and the United States lasted only a year and a half, in contrast to “19 years with the European Union.”
The tariff structure will be finalized in the deal
Piyush Goyal also added that the tariff structure between India and the US will be finalized in the deal.
India was facing a 50 percent tariff from the United States. According to Trump, 25% of these tariffs were implemented due to the high duties imposed by New Delhi on Washington. The remaining 25 percent was added as part of a penalty for India’s purchase of Russian oil during the ongoing war in Ukraine.
However, with the announcement of the trade deal in February 2026, the US stated that the tariff against India would be reduced to a final figure of 18 per cent.
Reuters quoted Goyal as saying, “The trade agreement that India is negotiating with the United States will take into account legal changes in Washington’s tariff structure.”
