India’s commerce landscape is set for transformation, as Minister Piyush Goyal revealed the first phase of the US trade deal is imminent—within 4-5 days—bringing US tariffs on Indian exports down to 18 percent upon executive order execution.
During his update, Goyal celebrated this as India’s ninth bilateral trade milestone, crediting PM Modi’s leadership for these FTAs that modernize infrastructure and amplify economic potential.
Turning to the Middle East, India prepares to formalize GCC FTA reference terms, reviving 20-year-old negotiations. This comprehensive pact with six nations will enhance predictability, investments, and security in food and energy domains.
Opportunities abound in food processing, petrochemicals, and telecom tech, building on $179 billion annual trade. It’s positioned as a catalyst for international economic harmony, per Goyal.
In a Lok Sabha statement, Goyal affirmed protections for agriculture and dairy in US talks. Regular engagements since Modi’s February 2025 visit have forged a equitable pact, targeting mid-March closure and exemplifying India’s bold trade diplomacy.