India-US Trade Deal: Negotiators Led By Rajesh Agarwal Head Back; Initial Pact Likely To Only Cover Goods

Indian trade negotiators, led by Special Secretary Rajesh Agrawal, have returned from the United States after the latest round of discussions on the proposed trade deal, Commerce Ministry sources said.

Talks remain ongoing with "everything still on the table", officials said, adding that India will only sign a deal if it secures sustained preferential access in key focus sectors. These include labour-intensive industries such as leather, toys and footwear.

The interim agreement, whenever finalised, is expected to be limited to goods. "Deadlines will not be a factor in dealmaking," the sources said, underlining India's stand that substance will take precedence over speed.

Exemptions for sectoral tariffs, particularly on steel, aluminium, and auto components, are unlikely to be part of the interim arrangement, the officials added.

Trade pacts between two countries are "not bound by deadlines", said Union Commerce Minister Piyush Goyal on Friday. While noting that the negotiations are underway, he said trade agreements are inked only when its a "win-win" scenario.

India's national interests will always be "supreme", the minister said, reiterating that trade deals are "not made on the basis of deadlines." When the pact is fully ready, it will be finalised, Goyal further said. His comments come amid growing speculations of the India-US trade deal being announced before the July 9 tariff deadline set by the Trump regime.

The US is pressing for greater market access to Indian agricultural and dairy sectors, which are long-standing red lines for New Delhi due to concerns over rural livelihoods and food safety. In response, India is pushing for meaningful tariff concessions on its labour-intensive exports such as garments, footwear, and leather, which are major job creators.