India-US to release joint statement on trade deal in next 4-5 days

Draft agreement in final stage, to be signed in March

India’s Commerce and Industry Minister Piyush Goyal

New Delhi – An agreement has been reached on a trade agreement between India and the US. The only questions remain when will the agreement be signed and when will the India and the US release a joint statement. India’s Commerce and Industry Minister Piyush Goyal answered that India and the US can release a joint statement on the trade agreement in the next 4-5 days. The formal draft of the agreement is still in the final stages, and it is expected to be signed by mid-March.

Earlier, Piyush Goyal had clarified that India and the US are complementary economies, and the proposed trade agreement would be beneficial for both the countries. Talks for a bilateral trade agreement began after Prime Minister Narendra Modi’s visit to the US in February 2025. On February 2nd, 2026, Prime Minister Modi and US President Donald Trump had a telephonic conversation. After that, the US reduced import tariffs imposed on India from 50% to 18%. After this conversation, the trade agreement was announced, and work is currently underway to finalize the details.

Goods may become cheaper post the trade agreement

The reciprocal tariff reduction agreement between India and the US is likely to make many goods cheaper in the country. These include technology-related products, as well as some agricultural products. According to reports, the agreement is likely to reduce the prices of devices such as laptops, mobile phones, electronic goods and their spare parts. Apart from this, processed food items, packaged goods and home appliances are also likely to become cheaper due to reduced import tariffs. Import tariffs on agricultural products such as pulses, dairy products and processed foods may be reduced, which may reduce the pressure on rising food inflation to some extent; however, official information on all the terms of the agreement has not been announced by the Government yet.