Prime Minister Narendra Modi with US President Donald Trump

Commerce secretary Rajesh Agrawal on Monday announced that a delegation of Indian officials will travel to the United States next week to finalise the legal terms of an interim India-US trade agreement that is expected to be signed and implemented in March.Joint Secretary in the commerce ministry, Darpan Jain who is India’s chief negotiator for the talks, will lead the delegation to Washington on February 23. On the progress of negotiations, Agrawal said that the virtual engagements between the two sides are already underway. “There have been virtual engagements going on (with the US) and next week, the chief negotiator will be leading a delegation to the US to finalise the legal framework towards the legal agreement that work will carry on next week in Washington,” he said.He added that the recently released joint statement between India and the US lays down the broad contours of the interim deal, which now need to be translated into a legally binding agreement. “The joint statement lays down the contours of the deal. Now the contours of the deal has to be translated into a legal agreement, which will be signed between the two sides,” he told reporters.Earlier this month, India and the United States announced that they had finalised a framework for an interim trade agreement aimed at making trade more reciprocal and mutually beneficial. Under the framework, US tariffs on Indian goods will be reduced from 50 per cent to 18 per cent. The reduction is expected to cover sectors such as textiles and apparel, leather and footwear, plastic and rubber products, organic chemicals, home decor, artisanal goods and select machinery. After the successful conclusion of the interim pact, tariffs on products like generic pharmaceuticals, gems and diamonds, and aircraft parts are also set to be removed.On the Indian side, New Delhi has agreed to eliminate or reduce tariffs on several US industrial goods and a range of agricultural and food products, including dried distillers’ grains, tree nuts, fresh and processed fruits, soybean oil, wine and spirits. However, the government has maintained that sensitive agricultural and dairy sectors such as wheat, rice, maize, milk, poultry and certain vegetables will remain protected.The framework also reaffirms the commitment of both countries to advance negotiations on a broader Bilateral Trade Agreement, launched by Prime Minister Narendra Modi and US President Donald Trump in February 2025 following months of trade tensions.The commerce ministry also released updated trade data, highlighting overall growth in exports. India’s total exports of merchandise and services in January 2026 stood at USD 80.45 billion, up from USD 71.09 billion in January 2025. Imports during the same period rose to USD 90.83 billion from USD 76.48 billion a year earlier, pushing the overall trade deficit to USD 10.38 billion compared to USD 5.39 billion last year.Agrawal said that the cumulative exports from April to January of the current financial year are estimated at USD 720.76 billion, compared to USD 679 billion in the corresponding period of the previous year. “It is an estimated growth of 6.15% and increased around approximately USD 40 billion dollars,” he said.