SBI Ecowrap advises India on US trade talks

State Bank of India's research unit, SBI Ecowrap, released a report on July 10, 2026, advising India to remain patient and avoid early concessions in ongoing trade negotiations with the United States. The report argues that the US administration uses uncertainty as a bargaining tool across multiple fronts including NATO, Iran, China, and Denmark — Greenland. It highlights India's unique strategic position and strengths such as its large domestic market, technology talent, and pharmaceutical sector. The report recommends India to wear down the US opening position, keep conversations warm, avoid public escalation, and wait for US market costs and geopolitical needs to emerge. It also analyzes the broader US negotiating framework linking trade, defense, and diplomacy.