India, US 'Very Close' to Framework Trade Deal: Agrawal

• India and the US are "very close" to finalizing a framework bilateral trade deal, according to Commerce Secretary Rajesh Agrawal.
• Negotiations are ongoing for both a framework deal to address high tariffs and a comprehensive bilateral trade agreement.
• The framework deal is expected to be completed in a short period, with final-stage talks involving physical and virtual meetings.
• The deal is crucial as the US imposed 50% tariffs on Indian goods, impacting exports and the rupee's value.
• Key sticking points include US demands for concessions on agricultural products, which India opposes to protect its farmers.

Why It Matters: A US-India trade deal framework could lower tariffs, boost exports, and affect the rupee.