India, US ‘very close’ to trade deal, talks made ‘significant progress’: Report

Rejecting suggestions that the India-EU agreement was used as a bargaining tool in talks with Washington, sources said the US did not figure in the final-day restricted discussions with the EU.

“There was not a single mention” of the United States, they said, stressing that the EU deal was pursued on its own merits and timeline.

At the same time, NDTV's sources signalled that engagement with Washington remains a priority, describing the US market as “as important, if not more important” for India.

They said Indian and American negotiators remained in touch even as the EU talks reached their endgame, and discussions with the US are continuing.

“The trade negotiators were in touch with their US counterparts as well,” a source said, adding that India remains hopeful of a positive outcome in the near term.

Sources framed India’s trade push as a response to growing stress in the global trading system, with the WTO’s most-favoured-nation framework increasingly under strain.

Against that backdrop, countries are prioritising bilateral and plurilateral agreements with major partners, and India is seeking predictable market access for exporters and investors through a network of deals rather than relying on any single agreement.

The government also underlined that it does not see exports to the EU and the US as competing objectives. The aim, sources said, is for exports to grow in both markets to support jobs and investment at home.

Pointing to the EU’s scale as the world’s largest import market, sources said the India-EU agreement reflects New Delhi’s broader trade strategy: securing early tariff advantages where possible, addressing non-tariff barriers, and creating frameworks that can be reviewed and expanded over time.

While the precise structure of the proposed India-US deal was not disclosed, sources described the talks as “robust” and said the remaining issues are narrow enough to allow a near-term conclusion.

The emphasis, they said, is on sequencing rather than substitution, with India continuing to pursue multiple bilateral negotiations in parallel.

The messaging is also aimed at industry, sources said, as the government seeks to reassure exporters and investors that trade policy is being driven by commercial outcomes — market access, stable rules and supply-chain integration — rather than geopolitical signalling.