With the US tariff deadline looming, an India-US trade deal appears unlikely, though a last-minute breakthrough remains possible. Trump has hinted at tariffs of 20-25% on Indian goods, while India anticipates these as a temporary measure during ongoing negotiations.

The stakes are high, with the United States and India counting on each other as indispensable partners in their competition with China.

U.S. President Donald Trump said a trade deal with India has yet to be finalised and warned of possible higher tariffs ahead of an August 1 deadline to seal an agreement.