India-US trade deal on the horizon as Trump hints at major agreement

A significant trade agreement between India and the United States could be announced soon, according to US President Donald Trump. Speaking at the "Big Beautiful Bill" event on Thursday, Trump suggested that a "very big" deal with India is in the works following the finalisation of a trade agreement between the US and China.

“We have one coming up, maybe with India. Very big one. Where we're going to open up India,” Trump said, without providing specific details. His comments come amid ongoing efforts by both nations to strengthen bilateral economic ties.

Trump’s statement aligns with recent remarks from officials on both sides. Earlier this month, US Secretary of Commerce Howard Lutnick said that Washington and New Delhi are close to finalising a deal. Speaking at the US-India Strategic Partnership Forum, Lutnick expressed optimism, saying the two countries had found “a place that really works for both.”

In India, Union Commerce and Industry Minister Piyush Goyal confirmed that talks are underway for a balanced and fair agreement. At a press briefing earlier this month, Goyal said the discussions are progressing positively, with both Prime Minister Narendra Modi and Trump committed to a mutually beneficial deal. “We are negotiating to make a nice, fair, equitable and balanced agreement to promote business,” he said.

While Trump touted a recent trade deal with China as a sign of momentum, the spotlight is now shifting to India. The former president described the China deal as part of a broader strategy to reshape global trade relations, but indicated that only select nations, like India, would be part of meaningful agreements.

“We're not going to make deals with everybody,” he said, suggesting a more selective and strategic approach. “Some we are just going to send them a letter, say thank you very much. You are to pay 25, 35, 45 per cent.”

The India-US trade relationship has grown steadily in recent years, and a formal agreement could significantly expand market access, reduce tariffs, and enhance cooperation across key sectors such as technology, energy, and manufacturing.