India and the United States have finalised the first phase of a proposed trade deal. Legal drafting of the agreement has now begun, officials said.
India’s Trade Secretary Rajesh Agrawal said both sides are working towards signing the deal soon. India is seeking better market access and greater certainty on tariffs.
The update comes ahead of a visit to India by US Secretary of State Marco Rubio, scheduled from October 17 to 22. The visit is expected to give fresh momentum to the talks.
What the Deal Covers
The first phase focuses on reducing trade barriers and setting clear rules for exporters. Officials said the aim is to make trade between the two countries smoother and more predictable.
Business groups in both countries have welcomed the progress. They say a formal deal could open new markets for goods and services worth billions of dollars.
Long Road Ahead
Trade experts said the legal drafting stage can take time, as every clause must be checked by both sides. Further phases of the deal will be negotiated later.
According to reports, both governments want the agreement to support jobs and growth. More details are expected after the Rubio visit concludes.
Trade between India and the United States has grown steadily in recent years. Officials on both sides said a full agreement could strengthen supply chains and create jobs in both countries.
Officials said the deal reflects the growing strategic partnership between the two democracies. Both countries have deepened cooperation in defence, technology and energy in recent years.
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