India is working on a trade deal with the US, which will pan out in three stages. Officials in New Delhi told Bloomberg that they hope to reach an interim agreement before July, when US President Donald Trump’s new reciprocal tariffs are expected to kick in.
The deal might include easier access for industrial goods and some farm products. It may also work on reducing other trade barriers, like strict quality control measures. The officials shared this information with Bloomberg, but asked not to be named, as the talks are still private.
The report suggests that the discussions are still going on, and it’s still not clear if the US has agreed to the three-step deal. Commerce Minister Piyush Goyal is in Washington on a four-day visit that ends on Tuesday. He is expected to meet US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick to push the talks forward.
Indian officials told Bloomberg that the second stage of the India-US trade deal could be a larger and more detailed agreement, expected to be timed between September and November. This stage may cover 19 key areas that both countries agreed on in April. The timing might match US President Donald Trump’s possible visit to India for the Quad leaders’ summit.
The final part of the deal would be a full and complete agreement, but it will need approval from the US Congress. According to the officials, this last stage might only be finished next year, reported Bloomberg.
India was one of the first countries to start trade talks with the US after PM Modi visited the White House in February, soon after US President Trump took office. Both leaders agreed to increase trade and try to finish the first part of the deal by fall. Since then, India has shown interest in achieving some early trade gains before the deadline.