The U.S. and India are in the homestretch of negotiations for an initial trade pact, Indian Commerce and Industry Minister Piyush Goyal said this week, adding only a few more conversations are needed to seal the deal. "We are almost there," Goyal said during a summit hosted by the U.S.-India Business Council on Wednesday. "I think another couple of calls and we should be able to sort [the deal] out." The U.S. and India began work on a limited deal after the U.S., in June 2019, revoked India's benefits under the Generalized System of Preferences. The initial deal - aimed at addressing issues like Indian price controls on medical devices, agricultural market access and non-tariff barriers for some products - was expected to be announced during the United Nations General Assembly summit last September. After missing that deadline, the two sides then anticipated an announcement in India in February. Instead, President Trump and Prime Minister Narendra Modi announced plans to begin talks on a comprehensive deal.
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