A trade deal between the US and India is expected soon, according to the U.S. Commerce Secretary.

• U.S. Secretary of Commerce Howard Lutnick predicts a trade deal between India and the U.S. in the near future.

• India will receive favorable tariffs on several manufacturing sectors, giving it an advantage over the rest of the world.

• The trade deal is expected to take two to three years to finalize, but India has expedited the negotiation process.

• The U.S. wants “reasonable access to India’s markets” but not a comprehensive deal.

• The U.S. aims to reduce the trade deficit and wants India to manufacture many product categories with lower tariffs.

• India is also taking steps to further befriend the U.S., avoiding actions that “rubbed the U.S. the wrong way.”