New Delhi: India’s proposed trade agreement with the United States has reached an advanced stage, with the framework for the deal now ready and awaiting an appropriate time for signing, Commerce Secretary Rajesh Agrawal said on Monday.

He said consultations between the two countries are progressing positively, adding that both sides remain committed to concluding a balanced and commercially meaningful agreement.

Trade framework ready for signing

Addressing the media, Rajesh Agrawal said India does not foresee any major hurdles in the ongoing trade negotiations with the US.

“We don’t see any challenge in India-US trade deal negotiations. Consultations are progressing in the right direction, and both sides remain positive. The India-US framework trade deal is ready for signing at an appropriate time,” he said.

He also noted that trade ties between the two countries continue to strengthen, including increased energy imports by India from the United States.

Goyal reiterates commitment to balanced agreement

Earlier in the day, Union Commerce and Industry Minister Piyush Goyal said negotiating teams from both countries remain fully engaged in finalising a trade pact that benefits businesses, farmers, workers and consumers.

Referring to his meeting with US Trade Representative Jamieson Greer last month, Goyal said both sides had reaffirmed their commitment to a balanced and commercially meaningful agreement.

“Our teams remain fully engaged in achieving this objective,” he said in a social media post.

Interim trade framework finalised earlier

India and the United States had earlier released a joint statement outlining the framework for the first phase of a bilateral trade agreement (BTA), also referred to as an interim trade deal.

The framework envisaged tariff reductions and greater market access for both countries.

According to the proposed framework, the United States agreed to reduce tariffs on certain Indian exports, while India proposed reducing or eliminating tariffs on several American industrial goods and agricultural products.

The proposed concessions cover products such as dried distillers’ grains (DDGs), red sorghum used as animal feed, tree nuts, fresh and processed fruits, soybean oil, wine, spirits and other industrial goods.

Tariff developments in the US

Subsequent developments in the United States affected the trade landscape after the US Supreme Court struck down certain tariff measures.

Following the ruling, the Trump administration announced a 10 per cent tariff under Section 122 of the US Trade Act on imports from all countries for a period of 150 days, beginning on February 24. The temporary measure is scheduled to expire on July 24.

Despite these developments, Indian officials have maintained that discussions with the United States continue to progress positively.

Focus on expanding bilateral trade

India and the United States have been working to deepen economic cooperation through a comprehensive trade agreement aimed at boosting bilateral trade and investment.

Officials from both countries have repeatedly stated that the proposed agreement seeks to improve market access, reduce trade barriers and create greater opportunities for businesses and consumers.

With the framework now reportedly ready, both governments are expected to finalise the agreement once the appropriate time for signing is mutually agreed upon.