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‘First tranche by…’: Piyush Goyal shares big update on India-US trade deal
Union Minister Piyush Goyal announced that the India-US trade agreement's first tranche will be finalized by November 2025.
Union Minister Piyush Goyal on Thursday said that the first tranche of the long-anticipated India-US trade agreement is expected to be finalised by November 2025, signalling steady progress in talks between New Delhi and Washington.
Speaking at a press conference in Patna, Goyal said, “In February 2025, Prime Minister Narendra Modi and President Trump together instructed us that the ministers of both sides should make a good agreement by November 2025. The first part of that agreement, the first tranche, should be finalised by November 2025, and since March, discussions have been going on very seriously in a good environment. Progress is being made, and with the progress, both sides are satisfied.”
The comments come against the backdrop of ongoing negotiations to ease trade barriers between the two nations. US President Donald Trump, in a recent post on Truth Social, had also indicated that a thaw was visible in the tariff standoff.
“I am pleased to announce that India and the United States of America are continuing negotiations to address the Trade Barriers between our two nations. I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!” Trump wrote.
Days earlier, the US President had described India-US ties as a “very special relationship,” reaffirming his personal rapport with PM Modi and asserting that there was “nothing to worry about.”
Prime Minister Modi echoed the optimism, noting that the trade talks would help both nations realise the full potential of their partnership. In a post on X, he said, “India and the US are close friends and natural partners. I am confident that our trade negotiations will pave the way for unlocking the limitless potential of the India-US partnership. Our teams are working to conclude these discussions at the earliest. I am also looking forward to speaking with President Trump. We will work together to secure a brighter, more prosperous future for both our people.”
The discussions are taking place amid heightened global economic uncertainty, with India facing additional challenges from the US decision to impose a 50 per cent tariff on Indian imports, including an extra 25 per cent levy linked to New Delhi’s purchase of Russian crude oil - a move Washington argues contributes to Moscow’s war effort in Ukraine.
