India-US Trade Deal: Next Week Crucial for Market Direction Amidst Awaited Details

• The market's initial enthusiasm for the India-US trade deal has waned due to a lack of specific details, particularly concerning sectors like agriculture.
• A joint statement on the proposed trade agreement is expected within the next four to five days, which will clarify the first phase of the deal.
• Commerce Minister Piyush Goyal confirmed that the first phase is almost ready and will strengthen economic ties, though formal agreement may take 30-45 days.
• Goyal stated that the initial progress will allow India to seek further concessions later, aiming to complete the agreement swiftly.
• India's total purchases are projected to reach $2 trillion over five years, with $500 billion from the US under a comprehensive trade framework, excluding investment commitments.