Overview
- Commerce Minister Piyush Goyal said the India–US interim pact is expected to be signed in March and take effect in April 2026.
- Negotiating teams will hold a three-day session from February 23, with India’s delegation led by chief negotiator Darpan Jain, to finalise the legal text.
- The United States has removed a 25% punitive levy linked to Russian oil purchases, and the reciprocal tariff on Indian goods is expected to fall to 18% under the deal.
- The framework includes India’s plan to purchase about $500 billion of US goods over five years—covering energy, aircraft and parts, coking coal, precious metals and advanced technology—alongside targeted tariff relief for select exports.
- Goyal also targeted April for rollouts of FTAs with the UK and Oman and September for New Zealand, as opposition criticism and analysts’ warnings on low FTA utilisation keep domestic scrutiny high.