India and the US are nearing a major trade agreement. Indian Commerce Minister Piyush Goyal said the deal should be “fair, equitable and balanced” for India. He added that the deal could happen soon, but there is no fixed timeline.
Officials say the negotiations are largely complete, and a draft agreement is ready. The deal follows World Trade Organization rules.
US President Donald Trump said tariffs on Indian goods are very high and indicated his administration plans to lower them. He called a “fair deal” between the two countries “close.”
The agreement aims to increase trade from about $191 billion to $500 billion by 2030. India wants to protect sectors such as farming, dairy, and workers’ welfare in the deal.
So far, five rounds of talks have been held, including discussions involving India’s External Affairs Minister S. Jaishankar. India is also exploring new trade opportunities with other regions, including the Gulf and Russia.
If finalised, the deal could strengthen economic ties, provide more export opportunities for India, and protect key domestic sectors.
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