India is working to finalize an interim trade deal with the US by July 8, aiming to restore export competitiveness, especially in labor-intensive sectors. The deal, under negotiation in the US with Commerce Minister Piyush Goyal leading talks, seeks tariff relief and better market access for key Indian exports while addressing US concerns on auto, dairy, and agri-imports.

BulletsIn

• India aims to finalize an interim trade deal with US before July 8
• Goal: Restore export status to pre-April 2 levels, especially in key sectors
• Sectors seeking relief: textiles, leather, gems, plastics, shrimp, chemicals
• India pushing to eliminate 26% additional duty and 10% base tariff
• Reciprocal tariffs paused for 90 days, but 10% base duty still hurting exports
• US demands: Lower duties on EVs (like Tesla), whiskey, dairy, GM crops
• Full trade deal covering 85–90% of items awaits US Congress approval
• Talks endorsed by PM Modi and President Trump; final deal expected by fall
• Goyal, Indian negotiators currently in Washington for discussions
• Digital services, agri-trade, and non-tariff barriers also part of negotiations