India, May 20 -- Indian shares fell sharply on Tuesday as investors watched the latest developments in the ongoing India-U.S. trade discussions.
The Bloomberg reported that India is working on a U.S. trade deal structured in three tranches and expects to reach an interim agreement before July, when President Donald Trump's reciprocal tariffs are set to kick in.
The deal might include easier access for industrial goods and some farm products, it was said.
Last week, Trump stated that India had proposed a trade agreement offering zero tariffs on American products, but Eternal Affairs Minister S Jaishankar later refuted these claims.
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