The first phase of the India-US trade deal, which aims to reduce the tariffs imposed by the US on Indian exports, is nearing finalization, although a specific timeline has not been established, Commerce Secretary Rajesh Agrawal announced on Thursday. A virtual meeting took place in late December between India’s Commerce Minister Piyush Goyal and US Trade Representative Jamieson Greer. Negotiating teams from both countries are actively engaged in discussions to reach an agreement.
Currently, the US has set a punitive tariff of 50% on many Indian goods, making it one of the highest rates globally. Despite this, India remains optimistic that its exports to the US will continue to grow. Electronics exports, which currently enjoy a tariff exemption, have significantly contributed to this positive outlook, even as heightened duties affect other sectors, Agrawal elaborated.
Agrawal emphasized that both nations are committed to finalizing the deal. In a related update, newly-appointed US Ambassador to India, Sergio Gor, confirmed that trade discussions between India and the US are ongoing. Gor mentioned that President Trump has extended his best wishes to Prime Minister Narendra Modi, affirming that their friendship is genuine and that the two nations share a relationship based on mutual interests and high-level engagements. He highlighted the importance of resolving differences amicably.
Beyond trade, Gor noted that India and the US will continue to collaborate on critical issues, such as security, counter-terrorism, energy, technology, education, and health. Additionally, he announced that India is set to be invited to join PaxSilica as a full member next month. This initiative, introduced by the US recently, aims to create a secure and innovation-driven silicon supply chain that includes everything from critical minerals to advanced manufacturing sectors like semiconductors and artificial intelligence.
Gor indicated that other nations, including Japan, South Korea, the United Kingdom, and Israel, are already part of this initiative, and India’s involvement would further enhance the group’s strength.
Original Source: https://www.morungexpress.com/first-tranche-of-india-us-trade-deal-to-be-signed-soon-commerce-secretary
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Publish Date: 2026-01-15 17:57:00
