“Very Big One”: Trump Teases Massive Trade Deal With India Amid Ongoing Talks

New Delhi: In a bold proclamation during the ‘Big Beautiful Event’ at the White House, former US President Donald Trump hinted at the imminent announcement of a “very big” trade deal with India, reigniting speculation about a landmark agreement that could reshape bilateral economic relations.

Weeks after intensive four-day closed-door negotiations between Indian and US trade officials, Trump hinted that a “great deal” with India was in the works. “Everybody wants to make a deal and be part of it,” he told the crowd. “We just signed with China yesterday. We’re having some great deals. We have one coming up, maybe with India. Very big one.”

While not disclosing specific details, Trump made it clear that trade pacts wouldn’t be extended universally. “We’re not going to make deals with everybody. Some we are just going to send a letter — say thank you very much, you are to pay 25, 35, 45 percent. That’s the easy way to do it,” he said, adding that his team preferred crafting deals over imposing tariffs.

Sources familiar with the negotiation process revealed that the primary focus of the recent discussions was to expand market access for both industrial and agricultural products, while tackling tariff and non-tariff barriers. The US delegation was led by officials from the Office of the US Trade Representative, while India’s team was headed by senior Commerce Ministry official Rajesh Agrawal.

The negotiations are reportedly aimed at increasing the current annual India-US trade volume from $190 billion to a massive $500 billion by 2030, a target considered ambitious but attainable with mutual cooperation.

Union Commerce and Industry Minister Piyush Goyal had earlier confirmed progress in the talks. “PM Modi and President Trump met in February 2025. Both leaders decided to pursue a bilateral trade agreement that is fair and equitable. It will benefit both our economies and the people on both sides,” he said. “We are committed to negotiating a nice, balanced agreement to promote business and investment.”

Trump’s statement comes a day after he signed a new trade deal with China. While he refrained from elaborating, a White House official confirmed the agreement prioritizes the expedited supply of rare earth elements from China to the US — a move aimed at reducing critical supply chain bottlenecks.

Additionally, the two sides have reportedly agreed on a framework to implement the Geneva agreement, hinting at deeper economic cooperation despite recent geopolitical strains that had virtually frozen bilateral trade between Washington and Beijing.

Earlier this month, US Secretary of Commerce Howard Lutnick had also signaled that an agreement with India was “close to being finalized,” with both countries finding “common ground that protects their respective interests.”

For India, a robust trade pact with the United States could unlock wider access to global supply chains, attract more FDI, and spur growth in key sectors like IT, pharmaceuticals, and agriculture. For the US, India presents a vast and growing market for goods, services, and technological collaboration — especially critical amid attempts to diversify away from Chinese manufacturing.

While Trump’s words carry weight, the fine print of the proposed deal — timelines, concessions, and conditions — remains under wraps. However, if realized, this “very big” deal could mark a significant chapter in India-US trade relations.