India–US Trade Deal Very Close to Completion, Says Official
“We are very near as far as the deal is concerned,” said a senior official, confirming that only a few minor points remain.
::contentReference[oaicite:0]{index=0}Tariff Dispute Expected to End Soon
India’s Chief Economic Advisor V. Anantha Nageswaran expressed optimism about ending the tariff conflict introduced during the Trump administration.
He believes the extra 25% tariff imposed on India could be withdrawn in the coming months.
The United States had earlier pushed India to lessen its reliance on Russian oil and source more from allied countries.
Trade Talks Progress Smoothly
Five rounds of formal negotiations have already been completed. India’s Commerce Minister Piyush Goyal recently held crucial meetings in New York, reaffirming:
“We are in constant dialogue and confident about the November deadline.”
ASEAN Summit May See Big Announcement
The expected trade agreement could be officially unveiled during the upcoming ASEAN Summit, where Prime Minister Modi will participate virtually.
The United States remains India’s largest export destination, receiving $86.51 billion worth of Indian goods in FY25 — maintaining a strong trade surplus.
How This Deal Benefits Both Countries
- Reduced or removed tariffs on key goods
- Boost to supply chain security
- Technology & investment partnership strengthening
- Increased commerce in emerging sectors
The trade pact is set to strengthen the India–US strategic and economic partnership like never before.
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