India and the United States are engaged in active discussions aimed at finalizing a trade deal, according to Commerce Secretary Rajesh Agrawal. While he refrained from specifying a definitive timeline, Agrawal indicated that the agreement is nearing completion and will be announced when both sides are ready.

Agrawal's remarks, made on Thursday, come amid concerns regarding existing US tariffs on Indian exports. Despite these concerns, India's exports to the US have remained resilient, showcasing a positive trend with approximately $7 billion in shipments. Agrawal expressed confidence that India's total exports would surpass $850 billion in the current financial year.

Ongoing discussions involve virtual meetings between Minister Piyush Goyal and United States Trade Representative Jamieson Greer, with negotiating teams addressing pending issues. Agrawal emphasized the continuous engagement between both countries, highlighting the mutual feeling that a trade deal is within reach.

In December 2025, merchandise exports experienced a 1.86% year-on-year increase, reaching $38.51 billion compared to $37.8 billion in December 2024. Cumulative exports during the first nine months of the current financial year totaled $634.26 billion, up from $607.93 billion during the same period last year. December 2025 imports rose to $63.55 billion from $58.43 billion a year prior, resulting in a $25 billion trade deficit for the month.

Agrawal noted the positive momentum in India's export growth and the country's ability to maintain positive territory. The focus is on sectors with lower tariffs or where industries have demonstrated resilience in maintaining supply chains.