Formal signing, detailed documentation on India–US trade deal likely within days: Sources

India and the United States have announced a breakthrough trade deal, with detailed documentation and a formal signing expected within days, sources familiar with the discussions told CNBC-TV18.

US President Donald Trump said on Monday, following a phone conversation with Prime Minister Narendra Modi, that Washington will

cut the reciprocal tariff on Indian goods to 18% from 25%

.

White House sources indicated that operational details, including the mechanism for bringing tariffs down to 18%, will be finalised within a week.

A formal signing could take place during External Affairs Minister S Jaishankar’s visit to Washington DC, where he is scheduled to meet Secretary of State Marco Rubio, sources added.

President Trump has also said India will reduce tariffs to zero on select US goods and ease non-tariff barriers, though the extent of market access remains unclear.

The deal comes after Commerce Secretary Rajesh Agrawal earlier said there were “no sticking points” left in negotiations.

The breakthrough comes after talks had stalled following Washington’s imposition of 50% tariffs — including a 25% punitive levy linked to India’s purchase of Russian crude oil.

The latest phone call between Trump and Modi marks their first conversation since October 2025.

However, former Commerce Secretary Anup Wadhawan cautioned that this is “not a typical FTA”, with a limited scope addressing specific areas of interest. Broader issues, he suggested, may be taken up in subsequent phases.

“I'm sure even as far as Russian oil is concerned, some middle ground will be found that is practically acceptable to both sides. So I don't see any extreme position being accepted by India that we will buy no Russian oil, some middle ground will arise. I think that is that, in my feeling. But let's see what happens. And I don't think the US should or would expect that kind of extreme position being accepted by India. So, I expect a middle ground there also,” Wadhawan added.