Negotiations on the India-US Bilateral Trade Agreement appear to be entering their concluding phase, with senior officials on both sides intensifying efforts to resolve the remaining issues before an interim agreement can be finalised.

Recent discussions in Milwaukee suggest that while substantial progress has been made, a formal announcement is not expected immediately.

US Trade Representative Jamieson Greer said the talks are now in the “short strokes”, a common American expression used to describe the final stage of a process. According to Greer, negotiators have moved significantly closer to an agreement and are working through the last outstanding sticking points.

Greer revealed that Prime Minister Narendra Modi and US President Donald Trump held what he described as a constructive telephone conversation earlier this week. He indicated that another discussion between the two leaders could take place shortly to review the latest progress and assess the status of negotiations.

Despite the positive momentum, the US trade chief cautioned that an announcement should not be expected in the immediate future. He stressed that both governments have already identified the full range of unresolved issues and are working diligently to bridge remaining differences before finalising the agreement.

Greer also described his meeting with Commerce and Industry Minister Piyush Goyal on the sidelines of the G20 Trade Ministers' Meeting in Milwaukee as highly constructive. He said officials from both countries continue to hold detailed discussions aimed at concluding the trade pact.

Goyal, commenting on the discussions, stated that he had held a productive engagement with Greer focused on achieving the early conclusion of a mutually beneficial interim agreement under the broader India-US Bilateral Trade Agreement.

The trade discussions coincided with the Modi-Trump call, during which the two leaders reviewed cooperation across trade, defence, energy, critical technologies and several other strategic sectors. Both governments have repeatedly underlined the importance of strengthening the wider India-US strategic partnership alongside the trade negotiations.

Before Goyal's visit to the United States, India's Commerce Ministry reiterated that the objective was to advance a balanced and mutually beneficial trade arrangement and move towards finalising an interim deal in accordance with the joint understanding reached on 7 February 2026.

India and the United States formally announced the framework for the first phase of the Bilateral Trade Agreement in February 2026. The framework outlined tariff reductions, expanded market access and stronger supply-chain cooperation, while leaving several sensitive issues for subsequent negotiations.

However, changes in the US tariff environment and evolving trade priorities extended the negotiating process beyond initial expectations, requiring both sides to revisit several elements of the proposed arrangement.

Last month, Goyal stated that the agreement was effectively "done and dusted" from India's perspective. He maintained that implementation now largely depends on securing a competitive advantage for Indian exporters in the American market relative to key rivals, including China, Bangladesh and ASEAN economies.

With negotiators now focusing on a clearly defined list of unresolved issues and political engagement continuing at the highest level, both countries appear closer than ever to unveiling the next phase of one of the most significant trade agreements in the India-US economic relationship.