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India, US race to finalise trade deal ahead of Trump's tariff deadline

Trade officials from India and the US met in New Delhi for about a week to discuss issues including greater market access, digital trade, customs rules and technical barriers to trade

trade, import, export, container, shipping

Shipping containers at the Jawaharlal Nehru Port in Navi Mumbai, India | Image: Bloomberg

Bloomberg

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By Shruti Srivastava
   
India and the US will expedite trade talks to conclude an agreement that includes “early wins” for both sides, an official said, as the two nations race to clinch a deal before Washington’s tit-for-tat tariffs kick in next month. 
 
Trade officials from India and the US met in New Delhi for about a week to discuss issues including greater market access, digital trade, customs rules and technical barriers to trade, the official told reporters in New Delhi, asking not to be identified as the information isn’t public. The US trade team arrived in New Delhi last week to advance trade negotiations.   
 
 
India and the US are working on a phased trade deal with an early agreement targeted for July, the deadline for implementation of the Trump administration’s so-called reciprocal tariffs. Those tariffs — which target Indian exports with 26 per cent levies — are facing legal challenges in Washington. 
 
The latest discussions also covered rules and standards for food safety and plants and human health, the official said, adding the two sides made good progress toward concluding a balanced agreement. The official added that the talks for concluding the first tranche of the trade deal will continue to be expedited. 
 
In an interview with French newspaper Le Figaro on Tuesday, Indian Foreign Minister Subrahmanyam Jaishankar said he is hopeful of reaching an agreement with the US before the reciprocal tariffs take effect.
 
Earlier this month, US Commerce Secretary Howard Lutnick said he’s “very optimistic” about prospects for a trade deal between the US and India “in the not-too-distant future.” Last month, Indian Commerce Minister Piyush Goyal met Lutnick and described his meeting as “constructive.”  
 
The two nations may have an opportunity to further advance trade talks next week, as the Indian Prime Minister Narendra Modi and the US President Donald Trump are both expected to meet at the Group of Seven summit in Canada.
 
India was among the first nations to initiate trade talks with the US this year, with Modi making notable efforts to appease the White House by offering concessions on a range of issues from trade to immigration.
 

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First Published: Jun 11 2025 | 11:52 AM IST

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