India and the United States are progressing towards finalizing the first phase of their bilateral trade agreement, with Union commerce minister Piyush Goyal announcing a target date of mid-July 2023. Following a meeting with the US trade negotiating team in New Delhi, Goyal expressed optimism about closing outstanding issues, emphasizing that this initial phase will grant India preferential access over its competitors in key sectors. The discussions, which took place from June 2-4, were led by US Assistant Trade Representative Brendan Lynch and Indian Additional Secretary Darpan Jain. Despite positive dialogue, the negotiations face challenges due to a proposed 12.5% additional duty on imports from India, which could adversely affect Indian products like textiles and seafood compared to lower rates for competitors such as Pakistan and Indonesia. Nonetheless, both sides reaffirmed their commitment to a mutually beneficial agreement, with a high-level US team expected to visit India soon to further advance the talks.