NEW DELHI — The first tranche of the proposed India–U.S. trade deal, expected to ease steep tariffs imposed by Washington on Indian exports, is close to being finalized, though no firm timeline can yet be committed, Commerce Secretary Rajesh Agrawal said Thursday.
Agrawal said India’s Commerce Minister Piyush Goyal held a virtual meeting with U.S. Trade Representative Jamieson Greer in the last week of December, and negotiating teams on both sides have remained in continuous discussions to reach a consensus.
The United States has imposed punitive tariffs of up to 50 percent on most Indian goods, among the highest rates applied globally. Indian officials are seeking relief from those duties as part of the initial phase of the trade agreement.
India remains hopeful that exports to the U.S. will stay in positive territory, Agrawal said, noting that electronics shipments, which are currently tariff-free, have been a key driver. Other sectors, however, continue to face pressure from elevated duties.
“Both sides remain engaged and committed to securing a deal,” Agrawal said.
Separately, newly appointed U.S. Ambassador to India Sergio Gor said earlier this week that India and the United States continue to be actively engaged in trade talks. Gor said President Donald Trump conveyed “his best wishes to his friend Prime Minister Narendra Modi.”
“The friendship between Mr. Trump and Mr. Modi is real and the U.S. and India are bound not just by shared interests, but by a relationship anchored at the highest levels. Real friends can disagree, but always resolve their differences in the end,” Gor said.
He added that while trade remains a critical pillar of bilateral ties, the two countries will also continue close cooperation in areas including security, counterterrorism, energy, technology, education, and health.
Gor also announced that India will be invited next month to join PaxSilica as a full member. He described PaxSilica as a U.S.-launched initiative aimed at building a secure and innovation-driven silicon supply chain, spanning critical minerals and energy inputs to advanced manufacturing, semiconductors, artificial intelligence development, and logistics.
“Nations that joined last month include Japan, South Korea, the United Kingdom, and Israel. India’s inclusion would further strengthen the group,” he said.
Indian officials see progress on the trade deal as critical to stabilizing export growth and easing bilateral frictions that have intensified in recent years. (Source: IANS)
