India-US Bilateral Trade Architecture

India and the US are each other's major trading partners. The US is India's largest export destination, with bilateral merchandise trade exceeding $100 billion annually. India's exports to the US include pharmaceuticals, engineering goods, textiles, gems and jewellery, and IT-related goods. India runs a merchandise trade surplus with the US. A US-India bilateral trade deal was announced in principle in early February 2026, with India agreeing to reduce tariffs on several US goods (including energy, defence equipment, and agricultural products) in exchange for tariff relief from the US side.