India, US likely to sign first tranche of trade deal by July: Piyush Goyal

India and the US are close to finalising the first tranche of a bilateral trade agreement by July, Commerce Minister Piyush Goyal said. The deal aims to boost market access, strengthen economic ties, and expand cooperation between both nations

New Delhi: India could sign the first tranche of its long-awaited bilateral trade agreement with the United States as early as July, Commerce and Industry Minister Piyush Goyal said on Monday. Speaking to media on the sideline of an event, Goyal further indicated that negotiations between the two countries are nearing a crucial stage despite recent tariff-related concerns.

The minister’s remarks have raised expectations of an early breakthrough in trade talks that have been underway for months, with both sides seeking to strengthen economic ties and improve market access for businesses.

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The proposed agreement is expected to provide a significant boost to bilateral trade and enhance opportunities for Indian exporters in key sectors.

Speaking about the progress of the negotiations, Goyal suggested that discussions between officials from India and the United States have advanced considerably in recent weeks and that efforts are underway to resolve the remaining issues.

The latest comments build on statements made by the minister last week, when he highlighted the rapid pace of engagement between the two countries.

On June 5, Goyal said that a full team of US trade officials had visited New Delhi and held extensive discussions with their Indian counterparts to push the negotiations forward.

“We had a full team of officials from different divisions of trade from the U.S. in Delhi,” Goyal had said.

According to the minister, both sides are working to close the remaining gaps in the proposed agreement and are focused on reaching a mutually beneficial outcome.

He had expressed confidence that the first phase of the trade pact could be finalised by the middle of July, describing it as a “very vibrant first tranche” that would lay the foundation for deeper economic cooperation between the two countries.

The proposed trade agreement is seen as a key step in expanding India-US economic relations at a time when both nations are looking to diversify supply chains, increase investment flows and strengthen strategic partnerships across sectors.

If concluded, the initial tranche could pave the way for a broader and more comprehensive trade framework in the future.