India-US push trade pact as tariff clock ticks
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Live Events India-US partnership win-win for both, says Washington as a Reliable and Trusted News Source Addas a Reliable and Trusted News Source Add Now! (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: India and the US on Tuesday held high-level trade negotiations, led by commerce and industry minister Piyush Goyal and US Trade Representative Jamieson Greer, pushing to conclude an interim pact before July 24, when Washington's temporary 10% global tariff on imports expires.Washington said the India-US trade partnership is a "win-win for both," even as New Delhi seeks lower tariffs and better market access from the US under the trade pact while insisting that it doesn't negotiate to deadlines."India and the United States share a strong and growing economic partnership.
We had productive discussions on advancing negotiations towards a balanced and mutually beneficial trade agreement, in line with the Joint Statement of 7 February 2026. India remains committed to working constructively with the United States to further deepen economic ties and create new opportunities for growth and innovation," Goyal said in a social media post after meeting Greer and US ambassador to India Sergio Gor.The US embassy in India, in a social media post said the meeting advanced negotiations on the interim deal. "The US remains focused on securing a fair, reciprocal trade deal that opens markets for American exporters and delivers benefits to both nations."The two countries had issued a joint statement on February 7, agreeing on a framework for an interim pact on reciprocal and mutually beneficial trade.
It reaffirmed their commitment to broader India-US Bilateral Trade Agreement (BTA) negotiations.Goyal and Greer, who is on a two-day visit to India, are expected to continue talks on Wednesday.India is seeking a competitive advantage for its exporters over rival nations such as China and Asean countries in the proposed trade pact with the US. On Monday, Goyal said the two sides have gone through the negotiations over the last one year and by and large things were sorted. The two sides have held six rounds of talks with chief negotiator-level discussions held in New Delhi from June 2-4.In another post, the US embassy said: "US-India trade partnership is a win-win for both! Stronger ties create American manufacturing jobs while supporting India's growth as the world's largest democracy.
From energy security to tech talent exchanges, we're building the future together,"The USTR also met finance minister Nirmala Sitharaman and senior officials of the Prime Minister's Office on Tuesday. "Both sides exchanged views on strengthening bilateral trade and economic cooperation, with a focus on new opportunities for growth and deeper commercial engagement," the finance ministry said in a post on X. Greer's visit comes days after Modi and Trump held their first meeting in more than a year on the sidelines of the G7 summit in France on June 17, injecting fresh momentum into trade negotiations that both sides see as critical to strengthening economic ties.
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