India, US aim for mid-July first trade deal phase

India and the United States are aiming to finalize the first phase of a bilateral trade agreement by mid-July, according to Commerce and Industry Minister Piyush Goyal. The announcement follows recent negotiations in New Delhi and sets a target date aligned with an expiring tariff measure.

Goyal stated on Monday that officials from both countries are moving quickly to close remaining issues, with the goal of executing a vibrant first tranche of the deal by the middle of next month. He indicated that a higher-level U.S. delegation, potentially led by U.S. Trade Representative Jamieson Greer, is expected to visit India by the end of June to advance the talks. The minister expressed confidence that the agreement would provide Indian exporters preferential market access over competitors in certain sectors.

The negotiations build on a framework established in February, which included a signal from India that it intended to purchase more than $500 billion worth of U.S. goods over five years across sectors like energy and technology. Officials view this initial phase as a step toward a broader trade partnership, potentially unlocking future discussions on more complex issues such as...