India-US trade deal near completion, signing expected soon: US Ambassador
text_fields
India and the United States are close to finalising an interim trade agreement, with 99 per cent of negotiations already completed, US Ambassador Sergio Gor said.
Speaking at an event on the US-India TRUST Initiative at the Indian Institute of Technology Delhi, Gor said both countries were working to resolve the remaining issues and expected the agreement to be signed in the coming weeks or months.
“Our current interim trade agreement is on the table for us to finalise, and that will unlock prosperity for both of our countries,” Gor said.
He noted that an Indian delegation had travelled to Washington last week to complete the final phase of negotiations. A US delegation is expected to visit New Delhi next week to continue discussions and conclude the agreement.
According to Gor, America's chief trade negotiator is scheduled to visit India from June 1 to 4 for the next round of talks aimed at bridging the remaining gap.
The ambassador said US President Donald Trump's goal was to facilitate bilateral trade in a manner that creates opportunities for American businesses and workers while strengthening economic ties between the two countries.
Gor also pointed to the rapid growth in India-US trade over the past two decades. He said bilateral trade in goods and services has increased from about 20 billion US dollars to more than 220 billion US dollars.
“Today, the US is one of India's largest trading partners, and India is among the top trading partners of the US,” he said.
He added that the growth in economic ties is increasingly being driven by innovation, investment, and high-value sectors, including digital trade, advanced manufacturing, energy, and emerging technologies.