India-US trade deal nearing conclusion, bilateral trade could hit US$500 billion by 2030

Negotiations between India and the United States are reportedly approaching the final legal-text phase of a bilateral trade agreement that aims to raise annual bilateral merchandise trade to roughly US$500 billion by 2030. The pact being discussed covers goods, digital trade and services. Indian exporters view it as a major step to offset tariff headwinds and diversify markets, while U.S. businesses seek improved access to Indian markets. Analysts caution that implementation timelines and sector-specific carve-outs remain key risks ahead of formal signature.