India-US Trade Deal "90% Done": What the Pact and the Quad Mean for India
A senior official of the US State Department (the US foreign ministry) said at a press briefing on 24 September 2026 that the India-US trade agreement is "90 per cent plus" complete. Only the final issues are still being worked out.
The official said the deal could take India-US relations to "another level". India's Commerce Ministry has also said the pact is almost finished.
India and the US had announced the framework (the basic outline) for the first phase of the deal in February 2026. Changes in US tariff (import tax) rules after that led to more rounds of talks.
The US Secretary of State (the US foreign minister) is due to visit India in October 2026. India's Commerce Minister will attend the G20 Trade Ministers' Meeting in Milwaukee, USA, on 30 September and 1 October 2026, and meet the US Trade Representative.
The foreign ministers of the four Quad countries (India, the US, Japan and Australia) are set to meet for the third time in 2026. The US official called three meetings in one year "unprecedented" (never happened before).
The official also said the India-Middle East-Europe Economic Corridor (IMEC) is still a big priority for both countries, though instability in West Asia has slowed its progress.
India-US Bilateral Trade Agreement (BTA)
The India-US Bilateral Trade Agreement (BTA) is a trade deal that India and the United States are negotiating with each other. Its aim is to make it cheaper and easier for each side to sell goods and services to the other. It does this by cutting import taxes (tariffs), removing other trade barriers and setting common rules. The talks are being done in stages: a smaller first phase (an "interim" deal) first, and a fuller agreement later.
The "90% plus" statement shows the BTA's first phase is close to being signed. The talks had to be adjusted after the US Supreme Court ruling changed the US tariff system. A signed deal would give Indian exporters, such as textile, leather and gems makers, clearer and more stable access to their biggest export market.
The Quad (Quadrilateral Security Dialogue)
The Quad, or Quadrilateral Security Dialogue, is a group of four democracies: India, the United States, Japan and Australia. The four countries meet regularly to work together for a "free, open and inclusive Indo-Pacific". That is the huge sea region stretching from the Indian Ocean to the Pacific Ocean. The Quad is not a military alliance and it has no treaty. It is an informal dialogue where the four countries discuss shared problems and run joint projects.
The US official linked the near-final trade deal with a busy calendar of Quad meetings, including a third foreign ministers' meeting in 2026. This shows that trade ties and strategic ties between India and the US are moving together. A settled trade deal could remove a major irritant and give fresh energy to Quad cooperation.
- India-US trade pact: "90 per cent plus" complete, per a senior US State Department official (briefing on 24 September 2026)
- India-US BTA talks launched: 13 February 2025; target of 500 billion US dollars in two-way trade by 2030
- Interim agreement framework announced: 6 February 2026; US tariff on Indian goods to be cut to 18% (from 50%)
- US Supreme Court ruled on 20 February 2026 that IEEPA does not allow the President to impose tariffs
- Section 122 of the US Trade Act of 1974: temporary tariff of up to 150 days; a 10% global tariff applied from 24 February 2026
- G20 Trade Ministers' Meeting: Milwaukee, USA, 30 September to 1 October 2026; the US holds the G20 presidency in 2026, with the leaders' summit in Florida in December 2026
- Quad foreign ministers' meetings in 2026: New Delhi (26 May), Manila (22 July), and a third one planned
- IMEC (India-Middle East-Europe Economic Corridor): announced in September 2023 on the side of the G20 summit in New Delhi