India Likely To Get More Favourable Terms In Trade Deal As It Is Likely To Come In Early: US Commerce Secretary Howard Lutnick

In a strong indication of progress on the much-anticipated trade pact, US Commerce Secretary Howard Lutnick on Sunday (1 June) said that India and the United States are close to finalising a bilateral trade agreement that benefits both nations.

“You should expect a deal between the United States and India in the not too distant future, because I think we found a place that really works for both countries,” Lutnick remarked during his keynote address at the 8th US-India Strategic Partnership Forum (USISPF) in Washington, as reported by NDTV.

Lutnick suggested that India could receive more favourable terms as one of the early entrants to the framework, stating: “Earlier countries get a better deal, that’s the way it is... India is trying to come in earlier than that.”

The comments come ahead of the final round of face-to-face negotiations, expected to take place in New Delhi this week. A US delegation is already in the capital to advance talks on the interim agreement, which could be sealed by the end of June.

The proposed trade pact — first announced in February by Prime Minister Narendra Modi and then US President Donald Trump — aims to be a multi-sector agreement that would more than double the current bilateral trade volume of $191 billion to $500 billion by 2030.

India is also pressing for a complete exemption from the 26 per cent reciprocal tariff imposed during the Trump administration on Indian goods entering the US.

As diplomatic and business channels on both sides intensify engagements, the coming weeks could see the formalisation of what may become one of India’s most significant trade partnerships in recent years.