India-US trade deal's 1st phase could be finalized by November
What's the story
Union Commerce Minister Piyush Goyal has announced that the first phase of the India-US trade agreement is likely to be finalized by November 2025. He said both sides are happy with the progress made so far. Goyal was speaking in Patna, where he revealed that PM Narendra Modi and US President Donald Trump had given their respective ministers a deadline for this deal back in February.
Ongoing
Discussions on since March
Goyal said that since March, serious discussions have been going on in a positive environment. The statement comes after Trump's recent social media post about ongoing negotiations to address trade barriers between India and the US.
Positive outlook
Modi responds to Trump's post
Responding to Trump's post, PM Modi expressed optimism about the trade negotiations. He said, "India and the US are close friends and natural partners. I am confident that our trade negotiations will pave the way for unlocking the limitless potential of the India-US partnership." The exchange between Trump and Modi indicates a thaw in relations between New Delhi and Washington after recent tensions over tariffs on Indian imports.
Resolution focus
Deal aimed at resolving trade disputes
The India-US trade deal is aimed at resolving recent disputes, including the new US tariffs on Indian imports. Both leaders are hopeful that this agreement will strengthen their partnership in the future. The ongoing negotiations mark a significant step toward enhancing economic ties.