India is actively pursuing a "mini trade deal" with the United States ahead of the July 8 deadline, according to government sources. Unlike other nations that received tariff warning letters, India remains under a July 8 framework, with finalization expected "in a day or two." However, officials emphasized that New Delhi will not proceed unless the deal terms are satisfactory for India .

The U.S. has delayed its tariff deadline from July 9 to August 1, giving countries additional time to secure deals. Sources caution these extensions are meant to pressure negotiations, not reset timelines . While the mini deal is expected to focus on goods, sensitive sectors such as agriculture, services, and labor remain excluded for now .

Markets reacted positively: India’s rupee strengthened and equities received fresh support amid hopes for progress . President Trump acknowledged the deal was near, even as he dispatched tariff notification letters to other countries, reinforcing that India's situation differed .

In essence, India is poised to wrap up a partial trade agreement but remains open to extending negotiations to August 1- provided the terms align with its economic interests.