India-US Trade Deal Framework Nears Completion, No Timeline Set: Agrawal

• India and the US are "very close" to finalizing a framework for a bilateral trade agreement, according to Commerce Secretary Rajesh Agrawal.
• Two parallel negotiations are underway: a framework deal to address high tariffs and a comprehensive bilateral trade agreement (BTA).
• The Trump administration imposed 50% tariffs on Indian goods, which India states must be resolved for the first phase of the trade deal.
• The US seeks duty concessions on agricultural and industrial goods, while India opposes concessions on agri and dairy sectors to protect farmers.
• High import duties are negatively impacting Indian exporters, with the US being a key destination for 18% of India's exports.

Why It Matters: India-US trade deal nears, impacting tariffs, exports, and the rupee's value.