Commerce Secretary Rajesh Agrawal. Archive | Photo Credit: PTI
The framework agreement, or interim agreement on trade, between India and the United States is “ready” and will be signed at the “right time”, Commerce Secretary Rajesh Agrawal said on Monday (July 13, 2026), although he added that the key aspect of providing India with a comparative advantage over its competitors was still being worked on.
Regarding the schedule, he indicated that the agreement could be signed even before the United States investigations into its trading partners conclude.
“The framework agreement is ready and when the time is right, it will be signed,” Agrawal told a news conference. “The Minister of Commerce has also said in public that we are ready to sign, we are just waiting. Because the agreements have to do with comparative advantages.”
“When you close a deal, you get preferential access to the Indian market and India gets preferential market access to that market,” he explained. “These preferences are against some competitors. That is something that is being structured. When it is ready, the agreement will be signed.”
Goyal himself also took to social media to address concerns over the trade deal.
“I had fantastic meetings with USTR Jamieson Greer, when he visited Delhi in June. Both sides reaffirmed their commitment to an agreement that is balanced, commercially meaningful and provides tangible benefits for businesses, farmers, workers and consumers in both countries,” Mr. Goyal said. “Our teams remain fully committed to achieving this goal.”
The United States is currently conducting two separate investigations into its trading partners, including India, regarding their actions on forced labor and whether these economies are using excess capacity to export to the United States in a way that harms the American economy.
Procedures related to forced labor are almost complete; The final hearing took place last week and the final report is expected this month. The draft report on the overcapacity case is still awaited, and Agrawal said the final process would take a minimum of 4-6 weeks after that.
Depending on the results of these investigations, the United States may impose tariffs on its trading partners. In its draft report on the forced labor case, it had proposed a 12.5% tariff for 54 countries, including India.
Agrawal indicated that this schedule did not necessarily affect the deadline by which the trade agreement between the two countries would be signed.
“As for the trade agreement, every time we sign it, all aspects of trade relations will be addressed,” he said. “My understanding is that whenever we reach a formal trade agreement, avenues for some of these other talks will also be addressed. An avenue may be opened before or after the conclusion of those procedures.”
Published – July 13, 2026 07:32 pm IST
