India and the United States have already agreed that Indian goods will receive preferential market access in the American market compared with competitor nations, Commerce and Industry Minister Piyush Goyal said in Cairo on Sunday.

Source: The Hindu BusinessLine

"This was already agreed between the leaders - President (Donald) Trump and Prime Minister Narendra Modi when they announced that we have both come to a broad framework agreement a few months ago and it has been acknowledged that India will get preferential trade access in the US with lower duties than our competitor countries," Goyal told reporters during his two-day visit to Egypt.

Source: Deccan Herald (PTI)

India and the US finalised the framework for the first phase of the bilateral trade agreement in February. The signing of the first tranche was to happen earlier, but changes in the US tariff landscape led to further negotiations on the agreement, Goyal said.

Source: IANS via AsiaPost

February 2026Framework for the first phase of the India-US trade pact finalised
End of this financial yearTarget to close the first tranche of the agreement

What is still undecided

The extent of the advantage for Indian goods will depend on the tariff framework eventually agreed upon, the minister said. A senior official had recently stated that the US has assured India of a comparative tariff advantage over competing countries under the proposed bilateral trade agreement.

Goyal said the two sides are working towards closing the first tranche of the pact by the end of the current financial year. He is in Egypt on a two-day visit to discuss ways to boost trade and investment between India and Egypt.

For Indian exporters, Sunday's statement confirms the direction of the negotiations - lower US duties than rival suppliers - but the actual duty rates exporters will face will only be known once the first tranche is signed and its tariff schedule is published.