India would have requested complete exemption from the 26%tariff, taken by the United States on April 2. According to an official, the two nations who already discuss a bilateral trade agreement, could announce the BTA before July 8. This development comes after the trade in trade and industry Piyush Goyal’s visited in the United States, where he has submitted meetings with US trade (USSTR) Jamieson Greer and Us Commerce Secretary Howard Litnick.
According to the agency reports, the manager said that India’s effort to protect its sensitive sectors can lead to a minimum quota or import price (MIP).
“The talks evolve positively. Before July 8, we plan to conclude a provisional agreement before the first tranche. It will include goods, non -tariff obstacles, certain areas of service also as digital. We try that the 26% manager and the basic price of 10% should not be there for India,” said PTI official. India is looking for concessions for its high-intensity sectors such as textiles and leather.
The two countries have set a deadline by the fall of this year to conclude the first phase of the BTA. Although the Trump administration would need approval of the US Congress to write prices below the most favored national tariffs, it could eliminate the reciprocal rates imposed on a number of countries, including India.
The United States has imposed a reciprocal tariff of 26% on Indian products, but then suspended it for 90 days, until July 9. Those in New Delhi and Washington are eager to take advantage of the 90 -day price pause window to advance commercial negotiations. However, the 10% reference rate imposed by America remains in place.
India is looking for concessions for sectors with high intensity of workforce such as textiles, precious stones and jewelry, leather items, clothing, plastics, chemicals, shrimp, oil seeds, chemicals, grapes and bananas, while the United States wants concessions in sectors like cars (electric vehicles in particular), Oil, daints, agricultural products, losses and dancing products, agricultural products, losses and dancing products, agricultural products, losses, dancing products, agricultural products, losses, dancing products, agricultural products, losses, dancessing products, daniming products, modified agriculture) Cortes, and even certain industrial goods.
The United States is India’s largest trading partner with bilateral trade worth $ 131.84 billion. India had a trade surplus with the United States of $ 41.18 billion in goods in 2024-25. The United States represents total exports of 18% of India, 6.22% in imports and 10.73% in the total trade in the country’s goods.
