India-US Trade Deal 'Weeks Away' Amid High Hopes from Industry and Government

Bharti Enterprises Chairman Sunil Mittal declared at the recent US-India Strategic Partnership Forum IX Leadership Summit that an eagerly awaited India-US trade deal could be finalized within 'weeks'. This comes as India's Commerce and Industry Minister Piyush Goyal confirmed the agreement is in its 'final stages' with most key issues resolved, despite recent policy shifts in Washington. US Ambassador to India Sergio Gor further solidified this optimism, stating negotiations are down to the 'last one or two percent'. The path to this agreement hasn't been entirely smooth; an interim trade framework was established in February 2026 after months of strained relations over tariffs and a US Supreme Court decision that impacted duties imposed under the International Emergency Economic Powers Act (IEEPA). Mittal emphasized the critical role of the nearly five-million-strong Indian diaspora in the US, acting as a 'beautiful bridge' for strategic ties in trade, defense, and technology. Both nations are eyeing a massive bilateral trade goal exceeding $500 billion in the coming years, underscoring the deal's economic significance. As the final details are ironed out, a key focus remains on Washington developing alternative mechanisms to preserve India's competitive advantage following the IEEPA ruling, a point acknowledged by US Trade Representative Jamieson Greer. India's consistent demand for preferential market access for its goods is a critical component of these concluding discussions. This anticipated breakthrough also aligns with India's broader push for global trade integration, with other agreements like the India-UK Free Trade Agreement set to take effect on July 15.