India-US trade deal 99% complete, may be signed within weeks
What's the story
Sergio Gor, the US Ambassador to India, has said that an interim trade deal between the two countries is at the "last 1%." The announcement was made at an event hosted by the Indian Institute of Technology (IIT) in New Delhi. The deal, which is expected to be finalized in a few weeks, would mark a major milestone in strengthening bilateral ties.
Deal finalization
Indian delegation visited Washington last week
Gor revealed that an Indian delegation visited Washington last week to finalize the remaining details of the trade deal. He also mentioned that a US team will be in New Delhi soon to wrap up discussions. The interim agreement was first proposed in February, when both countries issued a joint statement establishing a framework for reciprocal and mutually beneficial trade.
Economic expansion
Trade growth over 2 decades
Gor highlighted the exponential growth of trade in goods and services between the US and India, which has increased from $20 billion to over $220 billion in two decades. He said, "Today, the US is one of India's largest trading partners, and India is among the top trading partners of the US." The ambassador also stressed that this growth is driven by innovation, investment, and high-value sectors such as digital trade and advanced manufacturing.
Domestic agenda
Investment in trade expansion offers transformative potential
Gor also emphasized that trade expansion is a key part of the Trump administration's domestic economic agenda. He said, "Our investment in trade expansion offers transformative potential." The ambassador noted that India's growing economy and infrastructure needs are well-suited to American expertise in energy, aviation, R&D, advanced manufacturing, and digital infrastructure.
Geopolitical shift
TRUST framework's role in reshaping geopolitics
The TRUST framework, launched during President Donald Trump's second term, aims to anchor bilateral engagement in strategic technologies reshaping geopolitics. Gor said, "We're gathered at a defining moment, one where critical and emerging technologies are fundamentally reshaping the global balance of power." He emphasized that no partnership is better positioned than theirs to lead that charge.
Strategic partnership
Bilateral cooperation framework on critical minerals
Among the major announcements at the event was the formalization of a bilateral cooperation framework on critical minerals. Gor described this partnership as key to building resilient and secure defense and energy supply chains. He said, "The message that we want to send to everybody here and across the country is that the US is paying attention."
Technological collaboration
India's growing role in global technology ecosystem
On artificial intelligence (AI), Gor pointed to a bilateral joint statement as evidence of convergent regulatory and innovation strategies. He said, "Our joint statement on the US-India AI partnership reaffirmed our shared vision for our innovation ecosystems." The ambassador highlighted India's growing role in the global technology ecosystem, saying it is joining a network of trusted ecosystems and resilient supply chains that will define the future, from AI to semiconductors and quantum computing.