India–US trade deal advances with focus on finalising legal agreement
India Today
Speaking on the development, Commerce Secretary Rajesh Agrawal said a joint statement outlining the contours of the agreement has already been signed. He said that these contours now need to be converted into a formal legal agreement.
India and the US have moved a step closer to formalising their proposed trade agreement, with both sides agreeing on the broad contours of the deal and beginning work on translating it into a legal framework.
Speaking on the development, Commerce Secretary Rajesh Agrawal said a joint statement outlining the contours of the agreement has already been signed. He said that these contours now need to be converted into a formal legal agreement.
“There have been virtual engagements going on with the US, and next week the chief negotiator will be leading a delegation to the US to finalise the legal framework. That work will carry on next week in Washington,” he said.
India’s chief negotiator Darpan Jain is set to travel to Washington DC next week to carry forward discussions aimed at finalising the legal text of the agreement. Government sources said both countries are working towards completing the legal agreement by March 2026.
Officials said that while the effort is to meet that timeline, no fixed deadline is being imposed.
According to the Commerce Secretary, tariff adjustments, moving from 25% to 18%, are currently under processing and are expected to be completed in due course. He added that the process could be finalised as early as this week.
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Speaking on the development, Commerce Secretary Rajesh Agrawal said a joint statement outlining the contours of the agreement has already been signed. He said that these contours now need to be converted into a formal legal agreement.
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