India-US Trade Deal Enters Final Drafting Stage
India and the United States have finalised the first phase of their proposed bilateral trade agreement, with legal drafting now underway, Commerce and Industry Minister Piyush Goyal announced on Thursday, October 15, 2026. However, India will implement the agreement only after securing competitive trade advantages for its exporters compared with rival economies.
Piyush Goyal Confirms Progress on India-US Trade Deal
Addressing the SRCC Centenary Conclave in New Delhi, Goyal said the first tranche of the India-US bilateral trade agreement had been finalised and was undergoing legal drafting.
He expressed confidence that the remaining procedures would be completed soon but emphasised that implementation depended on India obtaining favourable trading conditions relative to competing countries.
India and the United States have been negotiating the proposed agreement since early 2025 to address tariff disputes, reduce non-tariff barriers and improve bilateral market access.
India Seeks Competitive US Tariffs for Exporters
Commerce Secretary Rajesh Agrawal said negotiations were progressing positively, with both countries seeking to conclude and sign the agreement at the earliest mutually acceptable opportunity.
However, he clarified that the agreement’s signing would depend partly on the United States finalising its broader tariff framework.
Washington is also examining trade measures under Section 301, which could influence the final terms of the bilateral arrangement.
India is seeking tariff conditions that would strengthen the competitiveness of its exports against countries including Vietnam, Bangladesh and Indonesia.
India-US Strategic Relations Remain Important
External Affairs Minister S. Jaishankar recently indicated that negotiations were approaching a possible conclusion despite outstanding issues.
The discussions follow tensions over US tariffs on Indian goods, immigration restrictions and disagreements involving trade and foreign policy.
Both governments continue to pursue stronger economic cooperation while negotiating conditions for improved market access.
Although the first phase has reached the legal drafting stage, neither government has announced a confirmed signing or implementation date.
