A government official told The Indian Express that agriculture has been a major sticking point in negotiations, particularly because India has adopted an unwavering stance on this sector.

As the July 9 deadline for the US tariff pause approaches, investors are anxious. A favourable trade deal could boost the Indian stock market and foreign investment, but unresolved tariff issues may lead to volatility.

According to Mobius, a completely free trade environment would be best, but most countries, particularly China, are not willing to follow World Trade Organisation rules and adhere to reciprocity