India, US Near Tariff Deal; Crypto Policy Seen as Key to Bilateral Trade Growth

India and the United States are close to finalizing a major tariff agreement, seeking to reduce average tariffs to 10% before the July 9 deadline. Led by talks in New Delhi, the negotiations focus on sectors like agriculture and automobiles, with India seeking reciprocal trade concessions while maintaining protections for sensitive markets. The broader strategy aims to deepen supply chain integration and raise annual bilateral trade to $500 billion by 2030, following India’s $45.7 billion trade surplus with the US in 2024. A new element is India’s evolving approach to cryptocurrency regulation, which is increasingly relevant to its trade and investment environment. Industry advocates argue that clear tax and regulatory rules for digital assets could attract crypto investment, supporting India’s trade ambitions and competitiveness. The Indian Finance Ministry is now considering policies on virtual assets, and the presence of leading global crypto players like Binance and Coinbase highlights improving confidence in local regulatory conditions. Aligning crypto policy reforms with broader trade agreements could further strengthen India’s position in the global digital economy and international trade negotiations. For crypto traders, reduced trade tensions and a more open stance on digital assets may improve market stability and attract new investment flows, especially as India integrates more deeply into global trade and digital markets. Watch for regulatory updates and finalized trade deals as potential catalysts for both traditional and crypto markets.