Blitz Bureau
NEW DELHI: India and the United States have entered an intensive round of negotiations to shape an interim bilateral trade agreement before July 24, when a temporary US tariff regime is set to expire.
Commerce Minister Piyush Goyal has concluded a series of meetings with US Trade Representative Jamieson Greer, with both sides reporting “substantial” progress. Washington earlier cut its reciprocal tariff on Indian goods from 25% to 18%, and the two share a goal of doubling bilateral trade to $500 billion by 2030.
A ticking tariff clock has focused minds — but India is signalling it will sign only when the terms deliver a real edge for its exporters.
At a Glance
• Deadline: July 24, 2026 (temporary US tariff expiry)
• Tariff: US reciprocal rate cut 25% → 18%
• Target: $500 billion trade by 2030
• India’s stance: Deal only with a clear competitive advantage
What stands out is the confidence of India’s stance. New Delhi has signalled it will finalise the arrangement only once the framework secures a genuine competitive advantage for its exporters — negotiating from strength rather than deadline pressure.
For exporters, the constructive move is preparation: aligning documentation, standards and supply chains so the gains can be captured quickly once a deal lands.
