Business EconomyPosted at: Oct 2 2026 12:35PM


India-US trade deal talks near end, but no immediate agreement: USTR

New Delhi, Oct 2 (UNI) The India-US trade negotiations have entered the final stretch. Still, a deal is not expected immediately as both sides continue to work through a limited number of unresolved issues, US Trade Representative Jamieson Greer said.
Speaking after the G20 Trade Ministers’ Meeting in Milwaukee, Greer said negotiators had narrowed down the areas of disagreement and were working towards resolving the remaining sticking points. He described the talks as being close to the end, while cautioning against expectations of an imminent agreement.
Greer also indicated that US President Donald Trump and Prime Minister Narendra Modi could speak again soon to take stock of the negotiations and assess the progress made by their teams.
The latest comments come days after Commerce and Industry Minister Piyush Goyal described the proposed trade agreement as being “almost done and dusted”. Goyal had also stressed that India was seeking a competitive tariff position compared with other exporting nations before the agreement could be finalised.
Greer and Goyal met on the sidelines of the G20 trade ministers’ gathering in Milwaukee, with discussions focused on moving towards an early conclusion of an interim trade agreement under the broader India-US Bilateral Trade Agreement framework.
Greer described his discussion with Goyal as constructive and said officials from both countries were continuing negotiations. Goyal, meanwhile, termed the meeting productive and said the discussions were aimed at reaching a mutually beneficial interim agreement.
The Commerce Ministry said Goyal also held bilateral meetings with trade counterparts from other countries during his visit to Milwaukee for the two-day G20 ministerial meeting.
The latest developments follow a phone conversation between Modi and Trump on September 30, during which the two leaders reviewed a range of bilateral issues, including trade, defence, energy and critical technologies.
According to the Prime Minister’s Office, the leaders agreed to remain in close contact and continue efforts to strengthen the India-US Comprehensive Global Strategic Partnership.
Greer said the conversation between the two leaders had been constructive. Another Modi-Trump call could provide a fresh political-level review of the progress made by negotiators as the two countries work through the remaining differences.
The negotiations have been underway through multiple rounds of engagement between officials and ministers, with tariffs and market access among the key issues being discussed. The two sides are now seeking to bridge the remaining gaps before announcing an interim arrangement, even as Washington and New Delhi continue negotiations on the wider bilateral trade agreement.
UNI VK RSA
Tags: #India-US trade deal talks near end# but no immediate agreement: USTR
More News

Piyush Goyal calls for WTO-compliant measures to address global trade distortions

02 Oct 2026 | 6:21 PM

New Delhi, Oct 2 (UNI) union Commerce and Industry Minister Piyush Goyal has called for trade measures to address global production and trade distortions to remain consistent with World Trade Organization (WTO) rules, while cautioning against shifting the adjustment burden onto developing economies.

see more..

Energy price shock puts governments under growing fiscal pressure: UN Report

02 Oct 2026 | 5:03 PM

New Delhi, Oct 2 (UNI) Governments across the world are facing mounting difficulty in protecting households from soaring energy and food costs as the economic fallout from the Iran war, high borrowing costs and extreme weather puts pressure on public finances, according to a new United Nations Development Programme (UNDP) report.

see more..

Centre extends RoSCTL scheme for garment, made-up exports till December 31

02 Oct 2026 | 2:07 PM

New Delhi, Oct 2 (UNI) The Centre has extended the Rebate of State and Central Taxes and Levies (RoSCTL) scheme for exports of apparel, garments and made-ups for another three months, providing policy continuity to exporters until December 31, according to a Textile Ministry notification.

see more..

Petrol, diesel demand rise in September; LPG consumption falls nearly 9pc: Report

02 Oct 2026 | 12:58 PM

New Delhi, Oct 2 (UNI) India’s consumption of petrol and diesel increased in September, even as LPG demand continued to weaken amid supply disruptions and efforts to reduce dependence on imported cooking gas, preliminary data from the Petroleum Planning and Analysis Cell (PPAC) showed.

see more..

India-US trade deal talks near end, but no immediate agreement: USTR

02 Oct 2026 | 12:35 PM

New Delhi, Oct 2 (UNI) The India-US trade negotiations have entered the final stretch. Still, a deal is not expected immediately as both sides continue to work through a limited number of unresolved issues, US Trade Representative Jamieson Greer said.

see more..