INDIA EXPECTS TO FINALIZE TRADE DEAL WITH U.S BY YEAR-END, OFFICIAL SAYS. (PHOTO).

India expects to finalize trade deal with US by year-end, official says

India is aiming to finalize a trade deal with the United States before the end of the year, with most key issues reportedly resolved, according to New Delhi’s trade secretary.

The announcement comes amid ongoing tensions, as the U.S. imposed tariffs of up to 50% on certain Indian imports in late August. Negotiations have continued despite the tariffs, with U.S. officials pressing India to reduce oil purchases from Russia and lower tariffs in sensitive sectors, including agriculture.

Speaking to industry leaders at the Federation of Indian Chambers of Commerce and Industry, India’s trade secretary Rajesh Agrawal said the priority is establishing a framework trade deal to address reciprocal tariffs. “We are close, we have tried to iron out most of the issues,” he said, noting that the remaining points could be resolved at a political level.

Agrawal expressed optimism about reaching an agreement within the calendar year, saying, “We are very hopeful that we should find a solution.” He also addressed concerns about India’s trade deficit, which reached a record $41.68 billion in October due to higher gold imports and declining exports to the U.S., emphasizing that the deficit is not in a “worrying zone.”