India-U.S. trade deal nears legal-text phase amid tariff hurdles

Officials from India and the U.S. say they are ‘very close’ to finalising a bilateral trade agreement, with core issues now largely converged and the two sides moving to draft legal text. However, U.S. tariffs of 50% on certain Indian goods remain a sticking point. Analysts highlight that while a breakthrough could boost export-driven stocks and sectors, timing and treaty specifics will determine the actual market impact.