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    India–U.S. Trade Deal: Joint Statement Likely in 4–5 Days, Says Piyush Goyal

    3 months ago

    New Delhi, February 5, 2026 — Commerce and Industry Minister Piyush Goyal on Thursday said that India and the United States are likely to finalise and sign a joint statement on their proposed trade deal within the next four to five days. He clarified that the agreement under discussion represents the “first tranche” of a broader Bilateral Trade Agreement (BTA) between the two countries.

    Addressing ongoing uncertainty around the contours of the deal, Mr. Goyal said the joint statement would lay the groundwork for subsequent legal agreements. These legal provisions, which are expected to be completed by mid-March, will allow India to reduce tariffs as part of the evolving trade framework.

    Following the signing of the joint statement, the U.S. administration is expected to issue an executive order reducing tariffs on Indian goods to 18%. Earlier this week, Prime Minister Narendra Modi announced that “Made in India” products would now face a reduced tariff of 18% in the U.S., after a telephonic conversation with U.S. President Donald Trump.

    The Minister emphasised that the agreement is being structured in phases, with the initial tranche setting the direction for deeper trade engagement. He also reiterated that sensitive sectors such as agriculture and dairy have been protected in the negotiations, responding to concerns raised by Opposition parties and farmer groups.

    While the government has projected the deal as a boost for Indian exports and manufacturing, Opposition leaders have sought greater clarity on the terms, arguing that Parliament and stakeholders should be fully informed. Several questions have also been raised in both Houses of Parliament regarding the scope, timelines, and sectoral impact of the agreement.

    If finalised as planned, the India–U.S. trade deal could mark a significant step in strengthening economic ties between the two countries, potentially expanding market access, reducing trade barriers, and providing momentum to India’s export-driven growth strategy.

     
     
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