(Mint)
US Secretary of Commerce Howard Lutnick, while signalling towards a trade deal between India and the US, said that the two countries have “found a place that works for both countries”.
Speaking at the US-India Strategic Partnership Forum Annual Leadership Summit on Monday, Lutnick said that while trade deals usually took two-three years, the US is trying to close them within a month, which is “not the ordinary DNA of trading relationships between countries”.
“Earlier countries get a better deal. That’s the way it is. I think India is trying hard to be one of the earlier countries which I appreciate,” he said, adding, “you should expect a deal between the United States and India in the not-too-distant future because I think we found a place that really works for both countries.”
“We have a great relationship between our countries. I’m optimistic for a trade deal soon that will benefit both nations,” Lutnick wrote in a post on X.
“I am a great fan of India, and even the people in the government know that that’s true,” he said during the Summit.
Reacting to Lutnick’s announcement of expecting an India-US trade deal soon, Kumar Mangalam Birla, Chairperson of the Aditya Birla Group, said, “I think he (US Secretary of Commerce Howard Lutnick) was very positive about the India-US equation, the future of the two countries together. He talked about how Prime Minister Modi and President Trump are great friends and that really helps in doing things together between the two nations.”
“He also said that the trade deal should be announced soon. I thought that he sounded really positive about the Indo-US future together,” Birla added.
Next round of trade talks on June 5-6
A US team will visit India on June 5-6 to discuss the Bilateral Trade Agreement (BTA), an ANI report said, quoting government sources. According to the sources, the bilateral trade talks between the two countries are progressing well.
The report also said that India and the US are poised to sign the first tranche of the much-anticipated BTA before July. As part of ongoing discussions on the India-US BTA, representatives of India’s Department of Commerce and the Office of the US Trade Representative met in Washington, DC, from April 23-25, 2025.
According to the ANI report, the team had fruitful discussions on a wide range of subjects, including tariff and non-tariff matters, during the meetings in Washington, DC.
As part of the BTA, leaders of both countries have set a bold new goal for bilateral trade – ‘Mission 500’ – aiming to more than double total bilateral trade to $500 billion by 2030.
Quoting sources, the report said that the Indian government is in the process of reviewing the impact of the US court order that struck down the reciprocal trade tariffs announced by President Donald Trump.
India-US trade deal
The India-US trade deal would mark a significant milestone in economic relations between the two nations, potentially opening new avenues for bilateral commerce and investment.
In 2024-25, for the fourth consecutive year, the US was India’s largest trading partner, with bilateral trade valued at $131.84 billion. India had a trade surplus of $41.18 billion in goods with the US in 2024-25, the ANI report added.
