India, US May Finalise First Phase of Bilateral Trade Agreement by July: Piyush Goyal

India and US move closer to a bilateral trade pact as negotiators work to resolve remaining issues ahead of a possible July signing

India may conclude the first phase of its long-pending bilateral trade agreement with the United States as early as July, Commerce and Industry Minister Piyush Goyal said on Monday.

Speaking to the media on the sidelines of an event in New Delhi on June 8, Goyal indicated that negotiations between India and the United States are nearing a critical stage despite the presence of tariff-related concerns.

The minister’s remarks have renewed focus on trade discussions that have progressed steadily in recent months, with both sides seeking to strengthen economic ties and improve market access.

The proposed agreement is expected to contribute to bilateral trade and create additional opportunities for Indian exporters across key sectors.

Providing an update on the talks, Goyal said discussions between officials from India and the United States have advanced considerably in recent weeks and efforts are underway to resolve the remaining issues.

The minister referred to developments from the previous week, when he highlighted the pace of engagement between the two countries. On June 5, Goyal stated that a full team of US trade officials had visited New Delhi and held extensive discussions with their Indian counterparts to advance the negotiations.

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

According to the minister, both countries are continuing efforts to close the remaining gaps in the proposed agreement and are focused on achieving a mutually beneficial outcome.

He also expressed confidence that the first phase of the trade pact could be completed by the middle of July, describing it as a “very vibrant first tranche” that would help establish a framework for deeper economic cooperation between India and the United States.

The proposed trade agreement is viewed as a significant step in strengthening India-US economic relations at a time when both countries are seeking to diversify supply chains, encourage investment flows and deepen strategic partnerships across sectors.