US-India Trade Deal's First Tranche To Be Concluded Soon: Piyush Goyal

(MENAFN- AsiaNet News)

Union Commerce and Industry Minister Piyush Goyal has said first tranche of the Bilateral Trade Agreement with US will be concluded as soon as possible and the members of the US team have begun arriving in the national capital for a three-day meeting.

"As far as the US team is concerned, some people have come, some will come tonight," Goyal said during the announcement of the India-Oman CEPA. Goyal also recalled the remarks of the US Ambassador to India that 99 per cent of the details of the Interim Trade Agreement have been finalised.

"As far as the US team is concerned, some members have already arrived, while others are arriving tonight. Our meetings are scheduled for 2,3 and 4 June. The leaders of both nations had already announced the framework agreement back on February 3. All the major points have been settled," Goyal said.

Final Details of the Agreement

"US Ambassador to India, Sergio Gor, recently stated that 99% of the details have been finalised... Small commas and full stops are being discussed. While finalizing, the changes that came there, the legal changes that came in the US, how to reflect that in the final agreement, how to change accordingly, after deciding that...I am fully confident that we will conclude the first tranche of the bilateral trade agreement with the US as soon as possible. We will sign it and then proceed to initiate further discussions on how to formulate an even more comprehensive bilateral trade agreement moving forward," he added.

Negotiation Agenda and Key Delegates

Sources said Indian negotiators will focus on preferential access among competitors. They said tariff relief from US Section 301 investigations will be among issues on top of agenda during talks with the US trade team.

The US delegation is led by Chief Negotiator Brendan Lynch and will hold talks with India's team headed by Additional Secretary Darpan Jain.

According to the Ministry of Commerce, the talks will finalize details of an interim pact and advance negotiations on market access, non-tariff measures, customs and trade facilitation, investment promotion and economic security alignment.

Building on Previous Talks

The current talks follow an Indian delegation visit to Washington from April 20-23 led by Jain. They build on the Joint Statement issued Feb 7, 2026, where both nations agreed on a framework for an Interim Agreement focused on reciprocal and mutually beneficial trade while reaffirming commitment to a comprehensive BTA.

US Ambassador to India Sergio Gor, on Friday at the US-India TRUST Initiative at IIT Delhi, said the agreement will be finalised soon. "Just last week, India had sent a team to Washington DC to finalise the last 1 per cent of that trade deal. Next week we will welcome a U.S. delegation here to continue those talks," he said.

"We fully expect that the trade deal will be signed over the next few weeks and months." With bilateral goods and services trade up from USD 20 billion to over USD 220 billion in two decades, both sides are aiming to close the first tranche quickly. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

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