A high-level US trade team is in Delhi for talks (June 1-4) to finalize an interim Bilateral Trade Agreement. India seeks preferential market access and tariff relief, with officials from both sides stating the deal is 99% complete.
Indian negotiators will focus on securing preferential market access against competitors and pushing for tariff relief from US Section 301 investigations as a high-level US trade team begins four days of talks in Delhi from today to finalise an interim Bilateral Trade Agreement. The talks, scheduled June 1-4, are led by US Chief Negotiator Brendan Lynch and India's Additional Secretary Darpan Jain. According to the Ministry of Commerce, the round will finalise details of the interim pact and advance negotiations under the broader BTA on market access, non-tariff measures, customs and trade facilitation, investment promotion and economic security alignment.
'99% of Things Decided': Piyush Goyal
Union Commerce Minister Piyush Goyal, speaking during the operationalisation of the India-Oman CEPA, said the framework is essentially complete. "As far as the US team is concerned, some people have come, some will come tonight. Two, three and four, our meeting is going to be going on for three days," Goyal said. "By the way, on February 3, the leaders of both countries announced the framework agreement. All the big things are decided."
Goyal said only technical issues remain. "As you know, just now, the US ambassador, Sergio Gore, also said that 99% of the things have been decided. Small commas and full stops are being discussed. While finalizing, the changes that came there, the legal changes that came in the US, how to reflect that in the final agreement, how to change accordingly, after deciding that, I have complete faith that even with the USA, as soon as possible, we will end the first tranche of the bilateral trade agreement, sign it, and start the discussion on how to make bilateral trade agreements in the future."
Framework and India's Proposals
The current round follows an Indian delegation visit to Washington from April 20-23 led by Jain. It builds on the Joint Statement issued Feb 7, 2026, where both sides agreed on a framework for an Interim Agreement focused on reciprocal trade while reaffirming commitment to a comprehensive BTA. Under that framework, India proposed to eliminate or reduce tariffs on US industrial goods and a range of agricultural products including dried distillers' grains, red sorghum, tree nuts, fresh and processed fruit, soybean oil, wine and spirits.
US Confident of Imminent Deal
US Ambassador Sergio Gore, speaking Friday at the US-India TRUST Initiative at IIT Delhi, said the conclusion is imminent. "Just last week, India had sent a team to Washington DC to finalise the last 1 per cent of that trade deal. Next week we will welcome a U.S. delegation here to continue those talks," he said. "We fully expect that the trade deal will be signed over the next few weeks and months."
Bilateral trade in goods and services has grown from USD 20 billion to over USD 220 billion in two decades, Gore noted, with India now seen as a cornerstone strategic ally for Washington. (ANI)
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