India-US Trade Deal Expected to Conclude This Year, Says Economic Survey

• The Economic Survey 2025-26 anticipates the conclusion of ongoing trade negotiations between India and the US within the current year.
• This agreement is expected to alleviate external uncertainties for India, despite global conditions posing challenges like slower growth in trading partners and tariff disruptions.
• India and the US have been negotiating a bilateral trade agreement since March last year, with six rounds completed.
• Talks have been slow due to the Trump administration's 50% tariffs on Indian goods imposed last August.
• A US Trade Representative delegation, led by Ambassador Rick Switzer, visited New Delhi in December 2025 for trade discussions, following earlier tariffs related to Russian crude oil purchases.

Why It Matters: India and the US are likely to finalize a trade agreement this year, reducing external economic uncertainty.