Trade deal: India's chief negotiator to travel to US; pact likely to be inked in March

Commerce caput Rajesh Agrawal connected Monday announced that a delegation of Indian officials volition question to the United States adjacent week to finalise the ineligible presumption of an interim India-US commercialized statement that is expected to beryllium signed and implemented successful March.Joint Secretary successful the commerce ministry, Darpan Jain who is India’s main negotiator for the talks, volition pb the delegation to Washington connected February 23. On the advancement of negotiations, Agrawal said that the virtual engagements betwixt the 2 sides are already underway. “There person been virtual engagements going connected (with the US) and adjacent week, the main negotiator volition beryllium starring a delegation to the US to finalise the ineligible model towards the ineligible statement that enactment volition transportation connected adjacent week successful Washington,” helium said.He added that the precocious released associated connection betwixt India and the US lays down the wide contours of the interim deal, which present request to beryllium translated into a legally binding agreement. “The associated connection lays down the contours of the deal. Now the contours of the woody has to beryllium translated into a ineligible agreement, which volition beryllium signed betwixt the 2 sides,” helium told reporters.Earlier this month, India and the United States announced that they had finalised a model for an interim commercialized statement aimed astatine making commercialized much reciprocal and mutually beneficial.

Under the framework, US tariffs connected Indian goods volition beryllium reduced from 50 per cent to 18 per cent. The simplification is expected to screen sectors specified arsenic textiles and apparel, leather and footwear, integrative and rubber products, integrated chemicals, location decor, artisanal goods and prime machinery. After the palmy decision of the interim pact, tariffs connected products similar generic pharmaceuticals, gems and diamonds, and craft parts are besides acceptable to beryllium removed.On the Indian side, New Delhi has agreed to destruct oregon trim tariffs connected respective US concern goods and a scope of cultivation and nutrient products, including dried distillers’ grains, histrion nuts, caller and processed fruits, soybean oil, vino and spirits. However, the authorities has maintained that delicate cultivation and dairy sectors specified arsenic wheat, rice, maize, milk, poultry and definite vegetables volition stay protected.The model besides reaffirms the committedness of some countries to beforehand negotiations connected a broader Bilateral Trade Agreement, launched by Prime Minister Narendra Modi and US President Donald Trump successful February 2025 pursuing months of commercialized tensions.The commerce ministry besides released updated commercialized data, highlighting wide maturation successful exports. India’s full exports of merchandise and services successful January 2026 stood astatine USD 80.45 billion, up from USD 71.09 cardinal successful January 2025. Imports during the aforesaid play roseate to USD 90.83 cardinal from USD 76.48 cardinal a twelvemonth earlier, pushing the wide commercialized shortage to USD 10.38 cardinal compared to USD 5.39 cardinal past year.Agrawal said that the cumulative exports from April to January of the existent fiscal twelvemonth are estimated astatine USD 720.76 billion, compared to USD 679 cardinal successful the corresponding play of the erstwhile year. “It is an estimated maturation of 6.15% and accrued astir astir USD 40 cardinal dollars,” helium said.