Group 1 - India and the United States are reportedly very close to reaching a free trade agreement, with most issues already aligned and only a few minor differences remaining to be resolved [2][5] - Indian Commerce and Industry Minister Piyush Goyal emphasized that India will not rush into signing any trade agreement and will not be pressured by deadlines [3] - The main point of contention in the trade negotiations is India's reluctance to open its agricultural and dairy markets [3][4] Group 2 - The U.S. has imposed a 50% tariff on certain Indian exports, which has led to a decline in Indian exports to the U.S. over the past four months, particularly affecting textiles, gems and jewelry, engineering products, and chemicals [4] - The potential agreement may significantly reduce punitive tariffs on Indian exports from 50% to 15%-16%, with energy and agriculture being key negotiation points [5] - The goal of the trade agreement is to increase bilateral trade to $500 billion by 2030, with the first phase expected to be finalized between October and November [5]