Negotiations between the United States and India have picked up pace, with both sides working to finalise a long-awaited trade agreement, as the two sides hold fresh talks in Washington, DC. A senior US official said the discussions have been “positive and productive,” suggesting that both countries are moving steadily toward a final agreement. According to officials familiar with the discussions, the majority of key issues have already been settled. Only a few minor gaps remain, which negotiators are now trying to close.
“Most of it is almost done. There aren’t many loose ends left,” one official said.
Key leaders driving the negotiations
The current round of talks includes high-level participation from both countries. The Indian delegation is led by Darpan Jain, while the US side is headed by Brendan Lynch from the Office of the United States Trade Representative.
India and the US have been in talks for quite some time now, aiming to reduce tariffs and increase trade between the two countries. A major step forward came earlier this year when both sides agreed on a framework for an interim deal.
India-US trade deal
US Ambassador Sergio Gor called the ongoing talks a “win-win” for both countries, expressing confidence that the agreement will benefit both economies.
Commerce Minister Piyush Goyal also confirmed that the first part of the deal is nearly ready. He defended the Modi government over the recent trade pacts with several countries, particularly with the United States (US), and said India's interests were protected while framing the deal. Goyal further stressed that India has secured one of the "best deals" among its competitors.
He further said India can compete with the rest of the world, as it has become a confident nation. Talking about the India-US relationship, the union minister said that the alliance between them is 'multidimensional' that spreads far beyond the trade between them.
"India and US relations are strong. It's multi-dimensional. It's not only about trade. There is a huge technology overlay on it. There is a huge critical minerals partnership, a defence partnership... It's a partnership of two countries which will define the future," Goyal said.
