India-US Trade Deal Nears Final Stage; Iran Oil Imports Clarified

• India-US trade deal talks are in the final stages, but no definite timeline for completion has been set, awaiting mutual satisfaction.
• Commerce Minister Piyush Goyal and US counterparts held a virtual meeting last month to advance discussions.
• US tariffs have shown a mixed impact on Indian exports: pharma stable, electronics up, marine products diversified, and textiles affected.
• India is diversifying exports through initiatives like Export Promotion Mission and FTAs with UK, Oman, New Zealand to mitigate tariff impacts.
• India's trade with Iran is limited to food and medicines; future strategy on oil imports depends on US sanctions clarity.

Why It Matters: India-US trade deal is close to finalization, while India monitors US stance on Iran for future oil import strategy.