India and the US expect to sign a formal trade deal in March, after which New Delhi will lower tariffs on US goods, Trade Minister Piyush Goyal said on Thursday, giving the first official timeline for the deal’s adoption. The two countries will issue a joint statement within four or five days, after which Washington will cut duties on Indian exports to 18% from 50%. India, in turn, will buy about $500 billion worth of US goods over the next five years, including $70–80 billion of Boeing aircraft, Goyal said.
