India-US trade deal in final stage, 99% of negotiations completed: Piyush Goyal

India and the United States are close to finalising a long-awaited bilateral trade agreement, with Union Commerce and Industry Minister Piyush Goyal saying that nearly 99% of the negotiations have been completed and only a few technical issues remain unresolved.

The development comes ahead of a crucial round of discussions scheduled to be held in New Delhi from June 2 to 4, where senior trade officials from both countries are expected to work towards concluding the agreement.

Goyal said most of the contentious issues between the two sides had been resolved and the proposed trade deal had entered its final stage.

"Almost 99% of the work has been completed. Only a few minor technical matters remain to be addressed," he said, expressing confidence that the agreement could be finalised soon.

A high-level delegation of US trade officials has already begun arriving in India for the talks, which are expected to focus on resolving the remaining issues and finalising the framework of the agreement.

According to officials, the trade pact is expected to strengthen economic ties between the two countries, boost bilateral trade and create new opportunities for businesses and investors on both sides.

Sources in the Commerce Ministry said India has maintained a firm position during the negotiations and remains focused on securing favourable market access for Indian goods and services.

India has reportedly conveyed to the United States that it would not agree to any arrangement that places Indian exporters at a disadvantage compared with competitors from other countries.

The sources added that India is seeking clarity on the implementation of recent US tariff measures and wants the revised tariff framework to be appropriately reflected in the agreement.

Officials said discussions are also continuing on issues linked to Section 301 of US trade laws, which could influence future tariff structures and market access provisions.

Once these matters are resolved, a final round of discussions is expected to take place between US Trade Representative Jamieson Greer and Commerce Minister Goyal before the agreement is formally concluded.

Both governments have been engaged in intensive negotiations over recent months in an effort to expand bilateral trade and address longstanding market access concerns.

Trade experts believe the agreement could provide a significant boost to sectors including manufacturing, technology, agriculture, pharmaceuticals and services, while further strengthening the strategic partnership between the world's two largest democracies.