Overview

• India is negotiating a bilateral trade agreement with the US targeting a trade volume increase from $191 billion to $500 billion.
• The US has imposed an additional 26% tariff on Indian exports, adding complexity to the ongoing negotiations.
• Commerce Minister Piyush Goyal assured exporters that the government is working proactively to achieve a mutually beneficial deal without undue haste.
• India's record export performance in 2024-25, surpassing $820 billion, underscores its economic resilience despite global trade challenges.
• The government anticipates the trade pact will boost domestic manufacturing, create jobs, and attract global supply chain players to India.