India's challenge goes beyond just sealing a US trade deal, it's about finding the right balance between opening up for growth and safeguarding its own industries.

Trade negotiations between the United States and India are making progress and a deal could be finalised soon, U.S. Commerce Secretary Howard Lutnick said on Monday, as both sides push to conclude talks ahead of a July deadline.

Trump supports tariffs to balance U.S.-India trade, with Lutnick urging early cooperation and reasonable market access to reduce the trade deficit.