Business news · Global · 02 Oct 2026
IN Textiles Healthcare Automobile and Auto Components Chemicals
US Trade Representative Jamieson Greer said talks on an interim India-US trade agreement are near the end, with the remaining sticking points identified, but that nothing is imminent. His comments followed a phone call between Prime Minister Modi and President Trump on Wednesday and a meeting with Commerce Minister Piyush Goyal on the sidelines of the G20 trade ministers' meeting in Milwaukee. The two leaders may speak again soon. A framework for the deal was announced in February 2026, and shifts in US tariff policy since then have stretched the negotiations. India's commerce ministry has said it will sign once the terms give Indian exporters an edge over China, Bangladesh and ASEAN rivals.
The US is the largest export market for several listed Indian sectors: garments and home textiles, generic drugs, auto components, speciality chemicals, and gems and jewellery. For them the deal decides the tariff they face relative to competitors in Bangladesh, Vietnam and China, which is the comparison the commerce ministry itself has drawn. The statement changes no tariff today; it only signals that the text is close and the timing open. It also sits beside unresolved friction over the new US sanctions law on buyers of Russian crude, which bears on Indian refiners and has not been settled by these talks.
Reported by The Tribune ↗ on 02 Oct 2026.
NSE stocks, from the last close on or before 02 Oct 2026 to the close on 16 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Textiles | 13 | +0.5% | 7 of 13 | +0.8 pts |
| Healthcare | 74 | -4.0% | 8 of 74 | -3.7 pts |
| Automobile and Auto Components | 52 | -0.6% | 22 of 52 | -0.3 pts |
| Chemicals | 47 | -0.3% | 22 of 47 | -0.0 pts |
| All tracked stocks | 804 | -0.3% | 383 of 804 | — |
An interim agreement is already in place, so this is about the wider deal and the tariff rate Indian exporters end up with against competing countries. The companies exposed are export-heavy ones selling into the US…
The rate keeps India's tariff at roughly the 10% it paid under the temporary levy and below the 12.5% charged to 43 other economies, so the immediate cost change for exporters is limited. Labour-intensive exporters to…
Zero duty in the UK improves the price competitiveness of Indian apparel and home-textile exporters, seafood processors, leather and footwear makers, auto-component suppliers and engineering firms against rivals that…