US President Donald Trump on Thursday (local time) said a “very big” trade deal with India could be on the cards, days after signing a new agreement with China. Speaking at the “Big Beautiful Bill” event at the White House, Trump said the US was “going to open up India,” hinting at significant progress toward a long-awaited bilateral trade agreement between the two strategic partners.Here are 10 key points to know as Trump hints at the upcoming deal and where it stands as of now:‘Very big’ deal with India comingPresident Trump suggested that the US is close to finalising a major trade pact with India, calling it a “very big one” that could open up new economic opportunities between the two nations. “Everybody wants to make a deal and have a part of it. Remember a few months ago, the press was saying, ‘You really have anybody of any interest? Well, we just signed with China yesterday. We are having some great deals. We have one coming up, maybe with India. Very big one. Where we’re going to open up India, in the China deal, we are starting to open up China,” he said.India-US trade talks in full swingThis comes as a senior-level Indian delegation, led by Chief Negotiator Rajesh Agarwal, is in Washington to hold discussions aimed at narrowing gaps in the proposed bilateral agreement.Read more: Indian team in US for fresh talks on trade dealTrade deal expected to target key sectorsThough not officially disclosed, the India-US deal is expected to cover areas such as digital trade, tariffs, market access, pharmaceuticals, electronics, agriculture, and defence-related supply chains.Agriculture emerges as a key hurdleSources say that tariff concessions on farm products—especially maize and soybean—have become a sticking point. India is reportedly cautious about opening up its market to genetically modified crops prevalent in US agriculture.US commerce secretary expects early resolutionSpeaking earlier this month, US Secretary of Commerce Howard Lutnick expressed optimism, stating both countries are in a “very good place” and that an agreement could come “in the not-too-distant future.”India insists on fair and balanced dealUnion Commerce Minister Piyush Goyal has reiterated that India will not settle for any agreement that undermines its economic or strategic interests. The goal is a “fair, equitable, and balanced” outcome.Trump keeps trade focused and selectiveEmphasising a tougher trade stance, Trump said the US won’t make deals with everyone: “Some we are just going to send them a letter… you are to pay 25, 35, 45 per cent.”Rare earths feature in China agreementTrump gave the update on the potential trade deal while acknowledging the agreeement with China. He did not reveal specifics of that deal either, but the White House confirmed it builds on a May agreement in Geneva, with China agreeing to supply critical materials like rare earths and magnets.Markets watching India nextWith the China deal stabilising investor sentiment, attention has now shifted to India as the next major trade milestone. A successful pact could enhance India’s global trade profile.Talks gain urgency ahead of tariff deadlineThe ongoing negotiations come ahead of a July 9 deadline, when India is slated to impose reciprocal tariffs of up to 26 per cent. Although Trump earlier announced a 90-day suspension, both sides are pushing for a breakthrough before the window close- making this round of talks particularly consequential.