India BTA Possible In 'Not Too Distant Future', Says US Commerce Secretary Lutnick

US Commerce Secretary Howard Lutnick on Monday said a trade agreement with India is “absolutely on the table” and could materialise in the “not too distant future”, as both sides work to overcome key sticking points around tariffs and market access.

“India has very high tariffs. When we ask them why that is, they don’t know why, but bringing them down to a reasonable level is something we are actively working on,” he said at the US-India Strategic Partnership Forum (USISPF) Leadership Summit 2025.

Lutnick confirmed that India is making a concerted push to be among the first countries to clinch a trade deal with the US under the new fast-track strategy. “These deals used to take 2–3 years. We’re trying to get them done in a month,” he said.

In exchange for lower tariffs and wider market access, Lutnick said India is seeking “special access” to American and allied markets, calling current negotiations “very productive”.

Touching on geopolitical sensitivities, Lutnick said New Delhi has taken steps to address earlier US concerns, including its military procurement from Russia and participation in BRICS. “India is now moving to buy defence equipment from the US and specifically addressing it (after Trump called it out),” he added.

The commerce secretary also highlighted India’s attractiveness as a manufacturing partner. “There are enormous types of industries we want to move to India. While some manufacturing will be reshored to the US, India could benefit from a unique trade relationship,” he said.

On AI and tech cooperation, Lutnick said the US is willing to responsibly sell its best chips to allies and is “open to supporting” India’s ambition to build large-scale data centres.

He also floated Trump’s proposed “Gold Card” for top global talent, which the US is fashioning as a new immigration path that could allow Indians to operate seamlessly across both economies.

On capital markets, Lutnick said India's regulatory improvements could drive foreign listings. “ If your regulators are hard, your books are beautiful, and India can attracts, they will want to go public there,” he said.