US‑India Agreement Set to Offer Preferential Market Access for Indian Exporters

Piyush Goyal, India’s Minister for Commerce and Industry, told reporters that the bilateral trade accord with the United States is now approaching its finalization. He emphasized that the two sides have aligned on most critical issues, paving the way for a deal that could grant Indian businesses broader access to the American market than any of its competing economies. Goyal noted that recent Supreme Court decisions in the U.S. that nullified certain tariffs under the International Emergency Economic Powers Act have cleared the path for a new arrangement designed to preserve India’s competitive advantage. The U.S. Trade Representative’s deputy, Jamie Greer, has apparently signed off on India’s request for more favorable terms. Despite higher tariff levels, India’s export performance to the United States remains solid, and Goyal anticipates a 15 percent jump in merchandise exports for the April‑June quarter versus the same period last year. He also announced the imminent launch of the India‑United Kingdom free trade agreement on July 15, which will unlock fresh opportunities for Indian exporters in the British market. The legal vetting of the India‑EU free trade agreement is expected to be completed within ten to twelve days, after which the pact will move to the approval stage with the backing of all 27 EU nations, targeting implementation before the close of the year.