New Delhi: India and the United States are moving closer to finalising a long-awaited bilateral trade agreement, with a senior US official indicating that negotiations have reached an advanced stage as both sides work to strengthen one of the world’s most important economic partnerships.
The comments come as US Trade Representative Jamieson Greer is in India for discussions with Commerce and Industry Minister Piyush Goyal, with both countries seeking to conclude an interim trade arrangement before the expiry of Washington’s temporary tariff measures next month.
Trade talks gain pace
Speaking at an event in Washington, US Deputy Assistant Secretary of State Bethany Poulos Morrison said the two countries were making significant progress toward a trade pact that would create greater market access and support stronger commercial engagement.
The proposed agreement forms part of a broader effort to achieve the “Mission 500” target of expanding bilateral trade to $500 billion by 2030. Officials from both countries view the deal as a key pillar of the growing strategic and economic relationship between New Delhi and Washington.
Growing economic partnership
Trade between the two nations has expanded steadily over the years. The United States remained India’s largest trading partner in FY26. Beyond trade, investment flows are also increasing. According to the US official, Indian companies announced major investment commitments in the United States during the recent SelectUSA Investment Summit, highlighting the deepening business relationship between the two economies.
Energy cooperation has also emerged as an important area of engagement. Bilateral trade in oil, gas and other energy products has grown substantially, while both countries are exploring opportunities to expand cooperation in the civil nuclear sector.
Tariffs remain a key issue
Ongoing negotiations have focused heavily on tariff structures after changes in US trade policy altered the framework that had been discussed earlier this year. India is seeking favourable tariff treatment for its exports, while both sides are reassessing commitments following recent developments in the US tariff regime.
Officials remain optimistic that an initial phase of the agreement can be finalised in the coming weeks, providing fresh momentum to India-US economic ties.
