India, US nearing new trade deal: Jaishankar
India and the US are about to sign a big new trade deal, following his February 2-4, 2026 US visit.
After his recent US visit, Foreign Minister S Jaishankar confirmed that the agreement is almost done, with both sides meeting several times to work out the details.
Deal to boost jobs, make things cheaper
This deal could make things cheaper and boost jobs by lowering US tariffs on most Indian exports—from 50% down to 18%. Sectors like tech, fashion, gems, and pharma stand to gain.
India has signaled it may eliminate tariffs on certain US industrial goods, and US sources have said purchases of US energy and tech could rise to about $500 billion.
The goal? Increase two-way trade from roughly $191 billion to about $500 billion; no timeline was specified.
Agri and dairy protections stay in place for now, but overall this is set to shake up business opportunities for both nations.