US Commerce Secretary Howard Lutnick blames PM Modi for delays in the India-US trade deal, saying the agreement remains stalled as India continues purchasing Russian oil. Talks aim to resolve tariffs and boost bilateral trade to $500 billion by 2030 from USD 191 billion currently. Officials from both countries are working on a framework trade deal to resolve tariff issues and pave the way for a broader, comprehensive trade agreement. The proposed pact aims to more than double bilateral trade, targeting $500 billion by 2030 from the current $191 billion. Overall, the American market represents 10.73% of India’s merchandise trade, highlighting the strategic importance of a formal trade agreement for both nations.

Source: dna January 09, 2026 06:43 UTC