India and the US are on the verge of sealing a major trade agreement that could reshape bilateral commerce. Indian Commerce Minister Piyush Goyal described the deal as “fair, equitable and balanced,” emphasizing India’s focus on protecting domestic interests. While talks are largely complete, no fixed timeline has been set for signing.
US President Donald Trump acknowledged that tariffs on Indian goods are high and indicated plans to reduce them, describing a “fair deal” as close at hand. The agreement targets raising trade from the current $191 billion to approximately $500 billion by 2030.
Key sectors, including agriculture, dairy, and worker welfare, are central to India’s negotiating stance. So far, five official rounds of discussions have been held, involving top Indian officials, including External Affairs Minister S. Jaishankar. India is also exploring new markets in the Gulf and Russia to expand trade outreach.
If finalised, the deal is expected to strengthen economic ties, increase exports, and ease trade barriers, while ensuring domestic industries remain protected.
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