Overview
- India and the United States have been negotiating a comprehensive trade pact for more than a year and officials describe talks as in the 'last mile' with only a small number of items left to resolve.
- Commerce Minister Piyush Goyal said the deal will give India a strong comparative advantage and that sensitive domestic interests, including farmers, will not be compromised.
- Goyal emphasized the pact covers more than tariff cuts, citing investments and services as central negotiation items rather than market access alone.
- U.S. leaders including President Donald Trump and Secretary of State Marco Rubio have publicly said the agreement is close but negotiators have not finalised or published any text.
- Key outstanding issues that could shape the final pact include tariff levels, energy and oil trade rules, and detailed protections for sensitive sectors, and these terms will determine how exporters and farmers are affected once the deal is released.