India-US trade deal likely by July end; Piyush Goyal says India may secure better terms than other countries

Commerce and Industry Minister Piyush Goyal has said that India and the United States are moving rapidly toward concluding the first phase of a bilateral trade agreement, with a strong possibility of signing the deal by the end of July 2026.

According to Goyal, negotiations between the two countries are progressing well, and India expects to secure a favourable outcome that could offer better terms compared to those received by several other trading partners of the United States.

The comments come after a round of trade negotiations held in New Delhi between June 2 and June 4, where officials from both sides discussed key issues related to market access, tariffs and bilateral trade cooperation.

First phase of trade pact expected by July

The proposed agreement is expected to be an interim or first tranche of a broader India-US trade pact. The initial deal is aimed at improving market access for both countries while providing Indian exporters with preferential treatment in selected sectors.

Goyal stated that discussions are moving at a fast pace and that both countries are working toward resolving outstanding issues before finalising the agreement.

High-level US delegation expected

As part of the next phase of negotiations, a senior US delegation is expected to visit India later this month. The visit is likely to focus on closing pending issues and advancing discussions toward a final agreement.

The proposed timeline is particularly significant as it coincides with ongoing global trade uncertainties and the expiration of certain US tariff-related deadlines in July.

India seeks competitive advantage

Goyal indicated that India is aiming for a balanced and mutually beneficial agreement while also securing advantages over competing exporting nations. A successful deal could improve India’s access to the US market and strengthen bilateral trade ties between the world’s two largest democracies.

Market participants will closely monitor further developments as details regarding tariff concessions, sector-specific benefits and market access provisions emerge over the coming weeks.

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