<h1>India-US trade agreement expected to reduce India's USD 41.18 billion goods trade surplus through increased imports</h1> A bilateral trade agreement between India and the US is expected to reduce India's goods trade surplus, which stood at USD 41.18 billion in 2024-25. The research report indicates that the agreement will enable increased imports of energy, agriculture products, and defense equipment from the US. While the US remains India's largest export partner, opportunities exist to expand exports in smartphones, pharmaceuticals, textiles, gems, and jewelry. However, India's exports may not see significant increases as most top exports are already duty-free, while the US administration focuses on reducing its trade deficit with India.