India And US Aim To Finalize Interim Trade Deal Before July 9, Paving Way For Broader Agreement

(MENAFN- KNN India) New Delhi, Jun 17 (KNN) The Indian government is hopeful of finalising an interim trade deal with the United States by July 9, 2025.

This agreement is being seen as a key step before both countries work on a broader trade deal expected to be concluded by the fall.

Talks between the two countries are progressing steadily, with recent meetings held in New Delhi. Both sides are working to settle issues related to tariffs, market access, and non-tariff barriers.

India has shown willingness to reduce import duties on select US goods, such as almonds and walnuts, and is open to matching US base tariff rates on some products.

However, India has firmly ruled out opening up its dairy and agricultural markets, citing the need to protect small farmers.

The early agreement, also referred to as the "early harvest deal," is being targeted to align with the 90-day pause the US had announced on tariffs for certain Indian goods.

If finalised on time, this deal could prevent a reimposition of duties and provide a boost to Indian exports like textiles, shrimp, and basmati rice.

Officials fr0m both countries are already drafting the agreement, with only a few issues left to resolve.

The broader trade deal, planned for later this year, is expected to cover wider areas including defence cooperation, energy trade, and manufacturing.

The goal, as agreed by leaders of both nations, is to double bilateral trade to $500 billion by 2030. The interim deal is seen as a stepping stone toward that goal and could mark a significant moment in strengthening India–US economic relations.

(KNN Bureau)

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