India denies rejecting US trade deal, says talks continue without major obstacles

India's government has strongly refuted claims that it rejected a provisional trade agreement with the United States. Minister of Commerce and Industry Piyush Goyal dismissed the reports as "completely false, unfounded, and misleading" in a post on X. He asserted that both nations remain committed to forging a pact that is "balanced, commercially viable, and generates tangible benefits."

During a press conference, Indian Commerce Secretary Rajesh Agarwal echoed this sentiment, stating, "We do not see any challenges in the negotiations for the trade agreement between India and the US." These assurances follow speculation about a potential deal being finalized before July 24, when a temporary 10% U.S. tariff is set to expire. Goyal previously indicated that discussions were extended to adjust a "new tariff architecture" and ensure Indian exporters gain a genuine competitive edge.

The U.S. currently has a temporary 10% tariff in place, which is set to expire on July 24. In June, Washington also proposed tariffs of up to 12.5% due to labor discrepancies with India and approximately 60 other economies. Meanwhile, India is preparing to implement its free trade agreement with the United Kingdom this month and is working towards a final agreement with the European Union, which Brussels aims to enact by early 2027.