With an aim to deepen economic ties and strengthen bilateral trade, Commerce and Industry Minister Piyush Goyal has stated that India and the United States (US) are rapidly moving towards resolving all outstanding issues in the proposed interim trade agreement. According to him, both countries are likely to finalize and implement the ‘very, very vibrant’ first phase of the pact by mid-July 2026.
Goyal noted that a US team visited New Delhi from June 2 to 4 to advance negotiations and finalize the agreement. The delegation held extensive discussions with the Indian team, and the minister also met with its members. He said ‘We are fast moving towards closing all the open ends’. Emphasizing the significance of the proposed arrangement, he added that the agreement represents only the first tranche of a broader bilateral trade pact and would provide India with preferential market access compared to its competitors.
He further stated that a high-level US delegation is likely to visit India later this month (June 2026) to continue discussions. The US remained one of India’s largest trading partners during FY2025-26. India’s exports to the US rose marginally by 0.92% to $87.3 billion during FY2025-26, while imports from the US increased by 15.95% to $52.9 billion, reflecting continued growth in bilateral trade.
