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India, US Near Breakthrough In Trade Deal
Both India and the United States are reportedly very close to finalising a bilateral trade deal, a senior government official said on Friday in New Delhi. Sources indicate that most key issues have been resolved, and a draft agreement could be announced soon.
Government’s Stand On Negotiations
The official, speaking on condition of anonymity, stated that “there has been convergence on most issues, and a deal is in sight.” Commerce and Industry Minister Piyush Goyal emphasised that India will not rush into a deal or accept a deadline-driven agreement, remarking, “We don’t do deals in a hurry, and we don’t do deals with a gun on our head.”
Key Issues And Progress
Among the main points of discussion were US tariffs on Indian exports and India’s oil imports from Russia. Negotiators are believed to have reached common ground on tariff cuts and market access. Reports suggest that US tariffs on Indian goods could be reduced to around 15–16 percent under the proposed agreement, while India focuses on safeguarding sensitive sectors like agriculture and domestic industry.
Strategic Importance
Although no official date has been set for the announcement, the progress reflects the growing economic and strategic ties between the two nations. India is keen to expand access to US markets, while the US aims to strengthen partnerships and diversify supply chains in Asia.
