US Commerce Secretary Howard Lutnick said he was "very optimistic" about a deal between India and US, which he said said would come in the "not too distant future". In

The US remains India's top trading partner for the fourth consecutive year in 2024–25. Bilateral trade stood at USD 131.84 billion, with the US accounting for 18% of India's total goods exports, 6.22% of total imports and 10.

NEW DELHI – Negotiators from India and the United States made headway in their latest round of bilateral trade discussions in New Delhi on June 10. The talks concentrated on thorny issues like market access for industrial and some agricultural goods, potential tariff reductions, and non-tariff barriers, Indian government sources told Reuters.

India and the United States have reportedly made notable headway toward signing an interim trade agreement that could be finalised within weeks, with the aim to boost the annual bilateral trade from $190 billion to $500 billion by 2030.

A four-day trade negotiation between India and the United States concluded in New Delhi. Both countries are preparing to sign an interim agreement in June. | World News | Patrika News

Both nations are aiming for an interim trade pact by the end of June, before the pause on Trump's proposed tariffs expires. India is advocating for full exemption from a 26% reciprocal tariff on domestic goods.

India and the U.S. are negotiating a comprehensive Bilateral Trade Agreement, focusing on market access, digital trade, and customs facilitation.

Goyal said that the proposed bilateral trade agreement between India and the United States presents a valuable opportunity for both nations to enhance and deepen their economic partnership.

The US's refusal to exempt India from increased steel and aluminium tariffs may hinder the July 8 deadline for a mini-trade deal.

The US and China agreed to a framework and implementation plan to ease trade tensions on Tuesday. “We have reached a framework to implement the Geneva consensus,” US Commerce Secretary Howard Lutnick said.