New Delhi, June 1: Union Commerce and Industry Minister Piyush Goyal on Monday shared a major update on the India-US trade deal, saying the two countries will very soon sign the first bilateral trade agreement, with most discussions already concluded and only a few issues remaining to be addressed.
Speaking to media Goyal said, some members of the US trade negotiation team have arrived in India, and both sides will start the discussions with aim to finalise the most awaited bilateral trade deal.
"As far as the US team is concerned, some members have already arrived, while others are arriving tonight. Our meetings are scheduled for 2,3 and 4 June. The leaders of both nations had already announced the framework agreement back on February 3. All the major points have been settled," Goyal informed today.
Earlier, Sergio Gor informed that about 99 percent of the terms have been finalised so far
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India-US trade deal so far
India and the United States issued a Joint Statement on 7th February 2026, agreeing on a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade.
Both sides are engaged to finalize the details of the Interim Agreement and take forward the negotiations under the broader BTA.
Multiple areas such as Market Access, Non-Tariff Measures, Technical Barriers to Trade, Customs and Trade Facilitation, Investment Promotion, Economic Security Alignment and Digital trade are being discussed.
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India has termed the finalisation of terms of trade as "Landmark Trade Victory." As per a datasheet released in February this year, the trade deal will unlock USD 30-trillion U.S. market for exports across key sectors.
The agreement delivers comprehensive tariff rationalisation, zero-duty access across large product categories, enhanced digital and technology cooperation, and a carefully calibrated framework to safeguard India’s farmers, MSMEs and domestic industry.
Trade Figures
With India’s total exports to the United States standing at USD 86.35 billion in 2024, the agreement significantly enhances competitive access across key sectors including textiles, leather, gems and jewellery, agriculture, machinery, home décor, pharmaceuticals, and technology-driven industries, the government has stated.
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