India, US fine-tuning trade deal after concluding most discussions, says minister Piyush Goyal

What happened: Piyush Goyal said India and the US have concluded most discussions on a proposed trade agreement and are fine-tuning the deal, following Marco Rubio's remark that the two sides were very close. Key numbers: Bilateral trade rose 6.53% to $140.76 billion in FY26 from $132.2 billion. India's trade surplus narrowed to $33.9 billion from $40.9 billion. Why it matters: A deal could give Indian exporters greater predictability in pricing US-bound shipments and negotiating contracts, offering support to an economy facing fallout from wars in West Asia and Ukraine.

Piyush Goyal said India and the US have concluded most discussions on a proposed trade agreement and are fine-tuning the deal, following Marco Rubio's remark that the two sides were very close.

A deal could give Indian exporters greater predictability in pricing US-bound shipments and negotiating contracts, offering support to an economy facing fallout from wars in West Asia and Ukraine.