There is a chance that the two nations will reach an interim trade agreement by June 25 when a group of US officials travel to India for trade negotiations next month, according to sources.
Rajesh Agrawal, Special Secretary in the Department of Commerce and India’s chief negotiator, wrapped off his four-day trip to Washington last week. He discussed the potential arrangement with his colleague in the United States.
New Delhi wants the 26% reciprocal tax on domestic goods to be completely waived in the interim trade agreement. Both nations have set a goal to complete the proposed BTA’s first phase by this fall, specifically in September or October.
For the fourth year in a row, the United States was India’s biggest trading partner in 2024–2025, with USD 131.84 billion in bilateral commerce. About 18 percent of India’s total goods exports, or 6.22%, go to the US.
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