India and the United States are reportedly close to finalising the first tranche of a bilateral trade deal, though no specific timeline can be committed for its announcement, according to India's Commerce Secretary Rajesh Agrawal. Speaking on Thursday, January 15, 2026, Agrawal affirmed that the deal is 'very near' and will be announced once both sides are ready. He also highlighted ongoing engagement, including a virtual meeting in December last year between Commerce and Industry Minister Piyush Goyal and United States Trade Representative Jamieson Greer. Negotiating teams from both countries are continuously working on pending issues to reach a consensus. Despite concerns over elevated US tariffs on Indian exports, Agrawal noted that India's exports to the US are recording positive growth, demonstrating resilience in bilateral trade flows. This positive trend, with monthly exports still around USD 7 billion despite high tariffs, suggests that Indian industries are adapting and maintaining supply chains. The newly appointed US Ambassador to India, Sergio Gor, also recently indicated active engagement in trade talks, referencing a genuine 'Trump-Modi friendship' and expressing confidence that 'real friends resolve differences.' This ongoing dialogue underscores the commitment of both nations to foster stronger economic ties and work towards a comprehensive trade agreement aimed at enhancing bilateral trade.