'Major Points Settled': Piyush Goyal Says India-US Trade Deal Nearing First Tranche Completion
'Major Points Settled': Piyush Goyal Says India-US Trade Deal Nearing First Tranche Completion Published By, Last Updated: June 01, 2026, 18:32 IST Goyal said some
'Major Points Settled': Piyush Goyal Says India-US Trade Deal Nearing First Tranche Completion Published By, Last Updated: June 01, 2026, 18:32 IST Goyal said some members of the US delegation have already arrived in India, while others are expected later on Monday ahead of scheduled meetings on June 2, 3 and 4. Union Commerce and Industry Minister Piyush Goyal. (File Photo: PTI) India is close to completing the first phase of its trade agreement with the United States, Union Commerce and Industry Minister Piyush Goyal said on Monday, indicating that most major issues between the two sides have already been resolved. Goyal said some members of the US delegation have already arrived in India, while others are expected later on Monday ahead of scheduled meetings on June 2, 3 and 4. He added that “major points" in the negotiations have been settled. He also recalled the remarks of US Ambassador to India Sergio Gor that “99 per cent of the details" of the Interim Trade Agreement have been finalised.
ALSO READ: Can India And US Finally Seal The Deal? US Trade Representatives In Delhi Ahead Of High-Stakes Talks The minister expressed confidence that the two countries would be able to finalise the first tranche of the bilateral trade agreement soon, after which discussions would continue on a broader and more comprehensive trade deal. “I am fully confident that we will conclude the first tranche of the bilateral trade agreement with the US as soon as possible. We will sign it and then proceed to initiate further discussions on how to formulate an even more comprehensive bilateral trade agreement moving forward," Goyal noted. Tariff Relief Among Top Agenda Sources said Indian negotiators will focus on preferential access among competitors. They said tariff relief from US Section 301 investigations will be among issues on top of agenda during talks with the US trade team. The US delegation is led by Chief Negotiator Brendan Lynch and will hold talks with India’s team headed by Additional Secretary Darpan Jain.
According to the Ministry of Commerce, the talks will finalize details of an interim pact and advance negotiations on market access, non-tariff measures, customs and trade facilitation, investment promotion and economic security alignment. The current talks follow an Indian delegation visit to Washington from April 20-23 led by Jain. They build on the Joint Statement issued Feb 7, 2026, where both nations agreed on a framework for an Interim Agreement focused on reciprocal and mutually beneficial trade while reaffirming commitment to a comprehensive BTA. US Ambassador to India Sergio Gor, on Friday at the US-India TRUST Initiative at IIT Delhi, said the agreement will be finalised soon. “Just last week, India had sent a team to Washington DC to finalise the last 1 per cent of that trade deal. Next week we will welcome a U.S. delegation here to continue those talks," he said. “We fully expect that the trade deal will be signed over the next few weeks and months." With bilateral goods and services trade up from USD 20 billion to over USD 220 billion in two decades, both sides are aiming to close the first tranche quickly.
(With inputs from ANI) News18 Newsletter Handpicked stories, in your inbox A newsletter with the best of our journalism submit First Published: June 01, 2026, 18:25 IST News world 'Major Points Settled': Piyush Goyal Says India-US Trade Deal Nearing First Tranche Completion Disclaimer: Comments reflect users’ views, not News18’s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy Loading comments...
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