India Finalizes Interim Trade Agreement With U.S.

Commerce Minister Piyush Goyal told The Hindu that negotiations on a formal interim India–U.S. trade agreement are nearly complete. He said India’s import of critical commodities could grow to $2 trillion within five years, partly supplied by the U.S., and that sensitive agricultural items are excluded from the deal. Goyal added protections via quotas, phased duty eliminations, and margins of preference, while a $500 billion purchase intention remains non-binding.