India and the US have been negotiating trade terms, tariffs and market access for months, with both sides indicating progress towards an agreement.
Washington: US President Donald Trump has said India and the United States are close to finalising a bilateral trade deal, describing the proposed agreement as “a much different kind of deal” from previous US trade pacts.
“They want to make a deal. We’re going to make a deal. Pretty close, yeah,” Trump told reporters at the Oval Office on Tuesday (local time). He did not elaborate on how the agreement would differ from earlier deals.
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His remarks come amid months of negotiations over trade terms, tariffs and market access, with officials on both sides signalling progress towards an agreement.
Marco Rubio says India-US trade deal is near
Trump’s comments came during US Secretary of State Marco Rubio’s visit to India, where discussions have covered trade, energy, technology, defence and people-to-people ties.
Rubio said the negotiations were close to completion, with only a few issues left to resolve.
“I would say we're about as close as you can be without having an executed agreement. I think there's a small number of items left to wrap up,” he said on Tuesday.
He expressed hope that the remaining issues would be settled soon, paving the way for the agreement to be announced and potentially signed by the two countries’ leaders.
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India-US trade deal: Progress so far
India and the United States announced a framework for the first phase of their bilateral trade agreement (BTA) in February. The proposed pact aims to strengthen economic ties and expand bilateral trade.
Subsequent changes in US tariff policies prompted further discussions on the agreement’s terms.
Earlier this month, Commerce Minister Piyush Goyal met US Trade Representative Jamieson Greer in Milwaukee and Washington, D.C., to discuss the negotiations. Goyal had said the first phase of the agreement was undergoing legal drafting, with the government aiming to complete the process.
US Ambassador to India Sergio Gor has also indicated progress, while External Affairs Minister S Jaishankar has expressed optimism about the discussions.
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What the trade deal could mean for India and the US
India is seeking better access for its goods and services in the US market, while Washington wants greater opportunities for American businesses in India.
The agreement could shape trade and investment across sectors such as manufacturing, technology, pharmaceuticals, energy and industrial goods. Its final terms will determine the tariff arrangements, market-access provisions and other commitments agreed upon by both countries.
Trump’s remarks, alongside Rubio’s assessment that only a few issues remain, point to significant progress towards concluding the trade deal.
Published: 21 Oct 2026, 10:26 am IST
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