"Very, Very Close": U.S. Official on Historic India-U.S. Trade Deal

The United States is on the verge of concluding a significant trade agreement with India, with a U.S. official stating the two nations are "very, very close" to finalizing the deal. Bethany Poulos Morrison, U.S. Deputy Assistant Secretary in the Bureau of South and Central Asian Affairs, expressed optimism about the progress during an event in New Delhi.

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Looking at trade, in February 2026, we announced the intention to finally conclude the historic trade deal. We are very, very close.

Morrison highlighted that the agreement, announced with the intention to conclude in February 2026, would provide reciprocal and mutually beneficial access to India's vast market of 1.4 billion consumers for American goods. This move aligns with the broader U.S. goal of reaching $500 billion in bilateral trade by 2030, a target being pursued with "a real sense of urgency."

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This is going to open India's market of 1.4 billion to America's goods on terms that are reciprocal and mutually beneficial.

Trade between India and the U.S. has already seen substantial growth, with 2025 being described as a "historic year." Bilateral trade in goods reached $149 billion, an increase of over $20 million from 2024. U.S. exports to India alone saw a rise of 9.8 percent.

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The administration is driving towards the goal of Mission 500, 500 billion in trade by 2030, with a real sense of urgency.

Investment flows also indicate deepening economic ties, with Indian companies showing significant interest in the United States. Events like SelectUSA have facilitated new U.S. investments from India totaling $20 billion, including $1.1 billion in immediate investments. U.S. Trade Representative Jamieson Greer and India's Union Minister of Commerce and Industry Piyush Goyal have been actively engaged in negotiations, focusing on both an interim agreement and a broader Bilateral Trade Agreement.

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USTradeRep Jamieson Greer and Indian Minister of Commerce and Industry Piyush Goyal met in New Delhi today to advance negotiations on the Interim Agreement launched by President Trump and Prime Minister Modi. The United States remains focused on securing a fair, reciprocal trade deal that opens markets for American exporters and delivers benefits to both nations.