US Commerce Secretary Howard Lutnick says both sides are nearing a “sweet spot” for an early trade pact, with India positioned for preferential treatment.
June-3, 2025: A trade deal between India and the United States could be finalised soon, according to US Commerce Secretary Howard Lutnick. He stated that the two countries have reached a “sweet spot” that serves both their interests, laying the groundwork for a mutually beneficial agreement.
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Speaking at the eighth edition of the US-India Strategic Partnership Forum (USISPF) in Washington on Sunday, Lutnick said, “You should expect a deal between the United States and India in the not too distant future because I think we found a place that really works for both countries.”
Lutnick noted that India might receive more favourable terms for being among the first pacts agreed upon. “Earlier countries get a better deal, that’s the way it is,” he said, highlighting that India is aiming to finalise the agreement ahead of other nations. “Those who come in July 4th to July 9th, there’s just going to be a pile,” he quipped.
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India’s Take: “We Are Committed”
India has echoed this optimism, with Commerce and Industry Minister Piyush Goyal affirming that both sides are actively working to secure the deal. Speaking to reporters in France on Monday, Goyal said, “Both countries are committed to working together, and both desire to give preferential access to each other’s businesses.”
The proposed trade pact was first announced in February by Prime Minister Narendra Modi and US President Donald Trump. Envisioned as a multi-sector agreement, its first phase is expected to be finalised by September or October 2025, with a long-term goal of boosting bilateral trade from USD 191 billion to USD 500 billion by 2030.
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Currently, a US delegation is in New Delhi to iron out details of an interim deal, which both sides hope to conclude by the end of June. India is pressing for a full exemption from the 26 per cent reciprocal tariff that the Trump administration imposed on Indian goods exported to the US.
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