There is a possibility of a trade agreement between India and America. The US has indicated that talks on a long-pending trade deal with India have progressed rapidly. A senior official said that there has been significant positive progress in recent talks between the two countries. Over the past few weeks, the US has signaled a willingness to engage constructively on trade after months of confrontation and stalled talks, backing away from its earlier confrontational stance on India’s purchases of Russian oil, the official said.
On Thursday, the senior official said the US is working with India on two parallel issues: a reciprocal trade agreement and India’s ongoing concerns over imports of Russian oil. “I think we have had a lot of positive developments with the US. We have two ongoing talks with them. Of course, we are negotiating a reciprocal trade agreement, but we also have the issue of Russian oil, on which we have seen a correction in the market,” the senior official said, according to ANI.
There is still a lot of work left on this agreement
The official further said that the talks could yield results before the end of the year, although much work remains. He said, “I would like to say that we can relax a little, but there is still a lot to be done. A reciprocal trade agreement will balance tariffs and increase market access between the two economies.”
An agreement between the US and India will resolve these issues
The official said the agreement will address a number of issues, including tariffs on US agricultural and industrial goods, a larger trade market for India and better access for Indian businesses in the US. It is notable that this news comes at a time when the White House has announced preliminary trade agreements with four Latin American countries – Argentina, El Salvador, Ecuador and Guatemala – that will offer reduction in tariffs on goods not available in the US.
Positive trade talks with many other countries
The official also noted recent cooperation with Vietnam, Indonesia and Switzerland, which signals a shift toward targeted agreements rather than broader multilateral trade frameworks. “We are having very positive discussions in many areas,” the official said.
New envoy to push Gore trade talks
This new momentum comes after Sergio Gore, a close aide of US President Donald Trump, took charge as the new ambassador to India. At Gore’s swearing-in ceremony on Monday, Trump hinted that reducing tariffs on Indian imports could be part of the upcoming trade breakthrough. “We are very close to something that can make a real difference,” Trump said.
