US-India trade deal nearing completion: Jaishankar
What's the story
External Affairs Minister S Jaishankar has said that the United States-India trade deal is nearing completion. Speaking at the Hindustan Times Leadership Summit 2026, he said most issues have been resolved, and only a few remain, primarily on the American side. "It is certainly our hope and, I would say, in many ways, our expectation that we are in the final stretch," he said.
Negotiation hurdles
Jaishankar's comparison of current situation to past experiences
Jaishankar acknowledged the impatience that often accompanies the final stages of major negotiations.
"But look, in the final stages of any negotiation, everybody becomes impatient," he said.
He compared the current situation to past experiences, including nuclear negotiations he was involved in years ago.
The minister emphasized that while many changes have been made on the American side, some concerns still need to be addressed before finalizing the trade deal.
Deal objectives
India wants beneficial, balanced trade deal
The proposed trade pact between India and the US aims to resolve tariff issues, remove non-tariff barriers, and enhance market access.
Jaishankar said, "For us, the key is that we want a trade deal which is beneficial, it is balanced, and which would give us a comparative advantage over groups of comparable economies."
He also stressed looking at the pact from a larger perspective of both countries' interests.
Diplomatic impact
Trade deal could improve bilateral ties
If finalized, the trade deal could improve bilateral ties between India and the US.
The relationship has been strained due to various issues like punitive tariffs imposed by Washington last year and President Donald Trump's comments on India's military clashes with Pakistan in May 2025.
Other factors include a new immigration policy from Washington and increased H1B visa fees that have affected Indian IT firms.