Finance
India may sign the first tranche of its long-awaited bilateral trade agreement with the United States as early as July, Commerce and Industry Minister Piyush Goyal said Monday.
Speaking to the media on the sidelines of an event, Goyal added that negotiations between the two countries are approaching a critical point, despite recent tariff fears.
The minister’s words have fuelled hopes for an early result in months-long trade discussions, with both sides aiming to enhance economic ties and improve market access for firms.
The proposed deal is intended to significantly improve bilateral trade and create new opportunities for Indian exporters in critical areas.
Speaking about the negotiations, Goyal stated that discussions between Indian and US authorities have progressed significantly in recent weeks, adding that attempts are underway to overcome the outstanding difficulties.
The minister’s current comments follow up from his remarks last week, in which he emphasized the two countries’ quick engagement.
On June 5, Goyal announced that a complete team of US trade officials had visited New Delhi and held long conversations with their Indian counterparts to advance the negotiations.
“We had a full team of officials from different divisions of trade from the U.S. in Delhi,” Goyal had said.
According to the minister, both sides are working to close the remaining gaps in the proposed agreement and are focused on reaching a mutually beneficial outcome.
He had expressed confidence that the first phase of the trade pact could be finalised by the middle of July, describing it as a “very vibrant first tranche” that would lay the foundation for deeper economic cooperation between the two countries.
The proposed trade deal is viewed as a critical step in expanding India-US economic relations at a time when both countries seek to diversify supply chains, increase investment flows, and develop strategic collaborations across sectors.
If completed, the initial tranche may pave the door for a more comprehensive trading framework in the future.
Source: IANS
