New Delhi, Jul 8 (PTI) Auto component makers are hopeful that India will soon seal a trade deal with the US, which is the single-largest market for Indian manufacturers, according to an industry official.

The official also said that the government has been regularly consulting with the auto components industry amid the ongoing talks for an interim trade deal between India and the US.

The comments have come against the background of the US suspending reciprocal tariffs until August 1. The earlier deadline was ending on July 9.

India was not included in the list of countries that received tariff letters from the Trump administration on Monday.

"... our name is not in the list of the 14 countries, and we are hopeful that, you know, they would be able to sort of come out with a deal," Automotive Component Manufacturers Association of India (ACMA) Director General Vinnie Mehta said.

"I do not have any insights into what would be the contours of the deal. It may be a truncated one, but then there would be a second phase also. That's what I understand," he added.

Mehta also said that the government has been regularly consulting with the auto parts industry on the proposed deal, while adding that "the people on the other side are not so easy".

North America is the largest export market for the auto component industry and accounted for 32 per cent of the overall auto component exports in FY25.

The market witnessed a growth of 8 per cent as compared with the last fiscal.

Overall, auto component exports grew by 8 per cent to USD 22.9 billion ( ₹1,92,346 crore) last fiscal as compared with USD 21.2 billion ( ₹1,75,960 crore) in FY 2023-24.