This article was originally published on May 22, 2025, and revised to reflect developments through June 3, 2025. It does not reflect developments after June 3.  When Indian Prime

India is set to send a high-level delegation to Washington next week to fast-track talks on a bilateral trade pact as the US tariff suspension on Indian goods ends on August 1.

India's chief negotiator Rajesh Agrawal confirms efforts to finalize a trade agreement with the US by fall, aiming for an interim deal first. India also pursues FTAs with EU, UK, and other countries.

A broader trade agreement, including cooperation on key supply chains, foreign investment, and advanced technologies makes a deal more likely and can help the U.S. and India more effectively counter China.

Nomura said the new tariff rates are largely similar to those on Liberation Day, and the August 1 deadline allows Asian policymakers to negotiate a better deal.

The US is working toward an interim trade deal with India that may reduce its proposed tariffs to below 20%, people familiar with the matter said, putting the South Asian nation in a favorable position against its peers in the region.