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Informist, Tuesday, Jun. 23, 2026

 

NEW DELHI – With US Trade Representative Jamieson Greer arriving in India Monday, discussions between the two nations are underway to finalise the first tranche of the proposed bilateral trade agreement, US Ambassador to India Sergio Gor said. 

 

"We are moving decisively toward finalizing a strong bilateral trade agreement that will unlock new economic opportunities for both countries and significantly deepen the U.S.-India economic partnership," Gor said in a post on X.

 

Greer is holding trade deal discussion with Commerce and Industry Minister Piyush Goyal during his two-day India visit. On Monday, Goyal said the government was working with the US to ensure a comparative advantage for Indian exports as part of the proposed bilateral trade deal. He said that "by and large, things are sorted out" regarding the first tranche of the trade deal.

 

On Feb. 7, India and the US had issued a joint statement, agreeing on a framework for an interim agreement for mutually beneficial trade, but are yet to finalise the first phase of the trade agreement. Goyal Monday said that the first tranche of the trade agreement has taken longer than expected since the deal had to be reworked after the US Supreme Court struck down US President Donald Trump's reciprocal tariffs, terming them illegal. 

 

A US team visited New Delhi in early June and held "constructive and positive discussions" with the Indian side on a wide range of issues, including merchandise trade and non-tariff measures and concluding the trade agreement. On Jun. 5, Goyal said he expected India and the US to close the first tranche of the proposed trade agreement by mid-July.

 

Despite the 50% tariffs imposed on India for a large part of 2025-26 (Apr-Mar), India's trade with US remained robust. The US was India's biggest trade partner in FY26, with total trade of $132.14 billion. India exported goods worth $86.51 billion to the US, while importing $45.63 billion worth of goods from the world's largest economy.  End

 

US$1 = INR 94.72

 

Reported by Shubham Rana

Edited by Avishek Dutta

 

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