'Last 1-2% left': US ambassador on India-US trade deal
What's the story
The proposed trade agreement between India and the United States is nearing completion, US Ambassador to India Sergio Gor announced on Monday. Speaking at the US-India Strategic Partnership Forum (USISPF) Leadership Summit, Gor said only a few minor issues remain to be resolved. "We are hopefully in the final steps of this deal. Most of this deal is complete. There's a few items that remain from both sides, but it's in the last one or two per cent," he said.
Ongoing negotiations
Gor compares India-US trade deal timeline to EU's
Gor said that the trade negotiations have been ongoing for around 18 months, which is relatively quick for an agreement of this magnitude. He said, "To put it into perspective, the European trade deal took 20 years." The ambassador stressed that this deal would be a win-win situation for both countries and provide greater certainty to businesses involved in bilateral commerce.
Strengthening ties
Strategic partnership remains strong, says Gor
Gor also dismissed claims that the strategic partnership had weakened, citing continued cooperation in sectors like artificial intelligence and defense. He said India conducts more military exercises with the US than with any other country. The ambassador also spoke about President Donald Trump's personal investment in strengthening ties with Prime Minister Narendra Modi, calling their relationship an asset to the broader strategic partnership.
Economic growth
US-India trade has grown significantly over the years
Gor highlighted that bilateral trade has grown from $20 billion two decades ago to around $220 billion today. He also referred to the goal of raising bilateral trade to $500 billion in the coming years. The ambassador said this goal is "an astounding number that is unmatched." He added that the next two years would be crucial for shaping the future of the India-US partnership.