India, US agree to ‘negotiate first tranche of beneficial, multi-sector bilateral trade agreement’ by fall of 2025

News Snapshot:

Hours after the US announced reciprocal tariffs on trading partners, including India, New Delhi and Washington launched negotiations for a trade agreement to be concluded by fall of this year — in the next seven to eight months — Foreign Secretary Vikram Misri said Friday. This is timed with the Quad leaders’ summit when US President Donald Trump will be visiting India for the summit. India is going to be the host of the summit. This is the first firm deadline for a bilateral deal after the deal being negotiated in Trump’s first term could not materialise. Story continues below...