US-India trade deal nears final stage

White House Press Secretary Karoline Leavitt has confirmed that the United States and India are close to concluding a trade agreement.

Her remarks follow President Donald Trump's earlier statement expressing optimism about a potential deal between the two countries.

Responding to a question from ANI during a press briefing on Monday (US local time), Leavitt said, “Yes, the President said that last week (that the US and India are very close to a trade deal), and it remains true. I just spoke to our Secretary of Commerce about it. He was in the Oval Office with the President. They are finalising these agreements, and you'll hear from the President and his trade team very soon when it comes to India.”

President Trump, while addressing a query on reciprocal tariffs, reiterated the US’s objective of securing greater access to Indian markets. “India, I think we are going to reach a deal where we have the right to go and do trade. Right now, it's restricted. You can't walk in there, you can't even think about it. We are looking to get a full trade barrier dropping, which is unthinkable and I am not sure that that is going to happen. But as of this moment, we agree that going to India and trade...” he said.

At a public event last week, Trump had remarked, “Everybody wants to make a deal and have a part of it. Remember a few months ago, the press was saying, 'Do you really have anybody of any interest?' Well, we just signed with China yesterday. We have one coming up, maybe with India. A very big one, where we're going to open up India.”

US Secretary of Commerce Howard Lutnick also shared a positive outlook on the progress of the trade talks. Speaking at the US-India Strategic Partnership Forum earlier in June, Lutnick stated, “I think we are in a very, very good place, and you should expect a deal between the United States and India in the not-too-distant future because I think we found a place that really works for both countries.” When asked about his confidence in the negotiations, he added that he was “very optimistic.”

On the Indian side, Union Commerce and Industry Minister Piyush Goyal, in a press conference on June 10, confirmed ongoing efforts toward a balanced trade agreement. “PM Narendra Modi and US President Trump met in February 2025... Both our leaders have decided to enter into a bilateral trade agreement which will be mutually beneficial for both the economies, businesses on both sides, and the people of both countries. We are negotiating to make a nice, fair, equitable, and balanced agreement to promote business,” Goyal said.

He also emphasised the strong bilateral relationship, describing India and the US as “very close friends, allies and strategic partners.”

With the July 9 deadline approaching, both sides are working to conclude the Bilateral Trade Agreement (BTA) during a 90-day pause on tariff escalations. Government sources have maintained that India’s national interests will not be compromised, even as talks continue to progress toward an interim deal.

However, negotiations have faced some hurdles. The US is pushing for lower import duties on its agricultural and dairy exports and for access to India’s market for genetically modified crops. India, on the other hand, has shown reluctance, citing concerns related to food security, environmental protection, and safeguarding its domestic agricultural sector.