India-U.S. trade deal: Both sides likely to finalise and sign joint statement in ‘4-5 days’, Piyush Goyal says

Amid uncertainty implicit details of the India-U.S. deal, Commerce Minister Piyush Goyal connected Thursday (February 5, 2026) confirmed that it is the “first tranche” of a larger Bilateral Trade Agreement and that the associated connection volition beryllium issued successful the adjacent “4-5 days”.

After the associated connection is signed, the U.S. volition travel retired with an enforcement bid connected reducing tariffs connected India to 18%. Earlier connected Monday (February 2, 2026), Prime Minister Narendra Modi announced that “Made successful India” products volition “now” pull a “reduced tariff of 18%” successful the U.S., aft a telephonic speech with President Donald Trump.

At present, Indian goods pull a 25% reciprocal tariff and a 25% further tariff for buying Russian crude oil.

Mr. Goyal said that a ineligible statement for the archetypal tranche of the pact is expected to beryllium signed by mid-March.The associated connection volition beryllium followed by an exhaustive ineligible agreement, helium said, adding that determination is nary concern committedness successful this pact.

Once the connection is signed, it volition beryllium converted into a ineligible statement and mid-March, "We are hopeful of signing that ineligible agreement," Commerce Secretary Rajesh Agrawal said.

With inputs from PTI