India and US are close to finalizing the landmark interim trade deal, with 99% of talks completed, US Ambassador Sergio Gor said. Final issues are being resolved through recent Washington talks, with an American team expected in New Delhi soon to conclude negotiations. Ambassador Gor shared the update while addressing the audience at the Indian Institute of Technology (IIT) New Delhi during an event focused on the US-India TRUST Initiative (Transforming the Relationship Utilizing Strategic Technologies).
“Our current interim trade agreement is on the table for us to finalize and that will unlock prosperity for both of our countries. Just last week, India had sent a team to Washington DC to finalize the last one per cent of that trade deal. Next week, we will welcome a US delegation here to continue those talks. We fully expect that the trade deal will be signed over the next few weeks and months,” said Sergio Gor.
To bridge the final gap, America's chief trade negotiator is scheduled to visit India from June 1 to 4 to lead the critical next round of negotiations. Ambassador Gor added, according to the media, “President Trump's goal is to facilitate bilateral trade in a way in which it creates unprecedented opportunities for American businesses and workers. Just last week, India had sent a team to Washington, to finalize the last one per cent of that trade deal. Next week, we will welcome a US delegation here to continue those talks. We fully expect the new trade deal to be signed within the next few weeks and months.”
Gor highlighted that bilateral trade in goods and services between the two nations has skyrocketed from a mere 20 billion US dollars to over 220 billion dollars over the past two decades. “Today, the US is one of India's largest trading partners, and India is among the top trading partners of the US,” Gor said, adding, “Importantly, this growth is increasingly driven by innovation, investment, and high-value sectors, from digital trade and advanced manufacturing to energy and emerging technologies.”
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