Delhi hopes tariff cuts have put it ahead of the game - but will that satisfy Trump, or is trade action still on the table?

But analysts say India’s tariff cuts are unlikely to allay the concerns of the Trump administration, which wants New Delhi to open its markets for a range of goods such as farm products, steel and oil. India's average tariffs are much higher compared to countries like Japan and China.

According to sources familiar with the developments, the US has not raised any substantial trade issues directly with India in recent years.