India and the US are likely to sign a new trade deal by March 2026, said Anantha Nageswaran, the Indian government's chief economic adviser.
„Most of the differences on the upcoming trade deal have been resolved and the two countries are now close to concluding it. The trade deal could be signed by March next year,“, the adviser was quoted as saying by The Economic Times.
Two-day trade talks between Indian and US officials began on Wednesday in New Delhi. The consultations are expected to be a decisive step towards concluding a comprehensive bilateral trade agreement, which was expected to be signed earlier this fall or December.
As Rajesh Agarwal, India's deputy minister of commerce and industry and the lead negotiator on the US side, announced earlier, the talks are discussing two parallel agreements: one on the trade deal and the other on the tariffs imposed by US President Donald Trump. He said that the trade deal will benefit Indian exports after the removal of high US tariffs.
India and the US began talks on a comprehensive trade agreement in February after Prime Minister Narendra Modi visited Washington. The two countries aim to double bilateral trade to $500 billion by 2030. The document was scheduled to be signed by the end of the year.