How close is the India-US trade deal? US Ambassador to India Sergio Gor says, ‘we are confident…’
As negotiations on the proposed India-US trade agreement move into their final phase, US Ambassador to India Sergio Gor said that only a “handful of
As negotiations on the proposed India-US trade agreement move into their final phase, US Ambassador to India Sergio Gor said that only a “handful of issues” remain unresolved and expressed confidence that the deal could be concluded within weeks or months. In an exclusive interaction with IANS in Washington, Gor noted that recent discussions in New Delhi between US Trade Representative Jamieson Greer and Union Commerce Minister Piyush Goyal had helped advance the negotiations. “A lot of it is, the language has to be written. I was in those meetings 48 hours ago with Greer in Delhi, and we met with Commerce Minister Piyush Goyal, who is a great friend of mine. It was very productive. There are a handful of issues that remain.
A lot of it now is on the language that ultimately both sides will sign. We are confident that over the next few weeks and months, it will get done," he said. Seeking to temper expectations over the pace of negotiations, Gor pointed out that trade agreements often take years to conclude. Watch the video here “To put it in perspective, we have been working on this deal for a year and a half. The European Union deal, which is still not done, has been in the works for 20 years. Everybody asks why this is taking so long, but we are on an incredible trajectory to get it done," he added. A trade agreement could help protect Indian exporters from the risk of higher US tariffs while supporting Prime Minister Narendra Modi’s efforts to establish India as a global manufacturing hub.
For Washington, such a deal would provide greater access to one of the world’s fastest-growing major economies and further its strategy of reducing supply-chain dependence on China. Referring to the Trump administration’s long-term outlook for the Washington–New Delhi trade relationship, US Trade Representative Jamieson Greer said that ties between the top leadership of both countries remain strong and are continuing to deepen. “President Trump and Prime Minister Modi have an amazing relationship. They've nurtured it over many years. Just last week, they met at the G7 in Evian, France, and I was there as well, and they agreed to take the relationship to the next level. This includes the trade deal that we're working on, but it also covers every aspect of the relationship.
We expect the relationship to continue developing and only move to a higher and higher level with every passing week,” Greer said. India’s exports to the United States rose to $87.3 billion in the financial year ending March, while imports from the US increased 17.2% to $53.48 billion. In February, India and the US unveiled a trade framework that lowered tariffs on Indian goods to 18% from 50%. However, days later, the US Supreme Court invalidated President Donald Trump’s broad global tariff policy, creating fresh uncertainty over the timeline for implementing the agreement.
The BriefWire