India-US Trade Deal Nears Completion, Says Envoy: Only 1-2% Remains
The proposed India-US trade agreement is nearly complete, with only a small fraction of issues left to resolve, US Ambassador to India Sergio Gor said on Monday. Speaking at the US-India Strategic Partnership Forum (USISPF) Leadership Summit in Washington, Gor described the negotiations as being in their 'last one or 2 per cent' stage.
Gor stated that most of the deal is already finalised, with a few remaining items on both sides. He emphasised that negotiators have intensified efforts over the past three weeks, with frequent travel between the two countries. The ambassador described the agreement as a 'win-win situation' that would provide greater certainty for businesses.
Responding to critics who question the strength of bilateral ties, Gor asserted that the partnership is on a strong footing, citing progress in trade, defence, and people-to-people connections. He also noted that the US Embassy in New Delhi has attracted $20.5 billion in new investments into the United States this year, making it the top-performing American diplomatic mission in investment promotion globally.
Gor highlighted the personal rapport between President Donald Trump and Prime Minister Narendra Modi, recounting an incident where Trump spontaneously wanted to call Modi early in the morning. He said, 'When you're friends with somebody, not everything has to be scheduled,' adding that Trump considers Modi a friend and deeply values the relationship.
Indian Ambassador to the United States, Vinay Mohan Kwatra, described India as an 'indispensable anchor' of the global order, economic growth, and stability. He noted that India's economy, currently valued at $4.3 trillion, is projected to reach $7 trillion by the end of the decade, $14 trillion by the mid-2030s, and up to $30 trillion by 2047. Kwatra stressed that achieving the leaders' target of $500 billion in bilateral trade by 2030—Mission 500—requires comprehensive efforts beyond just increasing exports.
The ambassador also mentioned that Quad foreign ministers are expected to meet in the Philippines in about two weeks, followed by another meeting in Australia, with preparations underway for a future Quad leaders' summit that would include President Trump visiting India.
