Piyush Goyal Explains Roadmap Of India–U.S. Trade Deal | What Happens Next?

India and the United States are moving rapidly towards finalising the first tranche of their bilateral trade agreement, with a joint statement expected within the next few days and a formal legal agreement targeted around March 2026. The deal is aimed at strengthening economic ties, boosting bilateral trade and improving market access for businesses in both countries. Reports indicate that once the joint statement is issued, the United States could move ahead with tariff actions through executive mechanisms, while India is expected to implement tariff changes only after the formal legal agreement is signed due to its MFN tariff structure. The agreement is being positioned as a major step towards deeper economic cooperation, with tariff reductions — including movement towards around 18% on certain Indian exports — expected to improve the competitiveness of ‘Made in India’ products in the US market and open new export opportunities across sectors. The deal is also part of a broader push to expand trade flows and strengthen supply chain resilience between the two economies. With both countries targeting stronger long-term trade ties and a potential expansion towards a much larger bilateral trade relationship in the coming years, policymakers see this as a strategic moment in India’s journey towards high-growth, high-technology and manufacturing-led economic expansion