India–US Trade Talks Enter Final Stage, Landmark Deal in Sight

New Delhi: The trade deal that has been pending for years between India and America is now about to be completed. US Ambassador Sergio Gore said at IIT-Delhi on Friday that "only 1%" of the agreement remains. The American team is reaching Delhi next week. It is believed that the deal will be signed in a few weeks.

What did the ambassador say?

Gore said, "An interim trade agreement is on the table. Once it is finalized, it will open the way for progress for both countries." He said that the Indian team had recently gone to Washington. There was talk about solving the last 1% issue. Now the American team will come to India and take the discussion forward.

Who is coming to India next week?

The team of America's chief trade negotiator will remain in Delhi from June 1 to June 4. A meeting was held in Washington in April. Now there will be a second round in Delhi. Both countries want the interim deal to be completed soon.

Where is the problem?

Gore did not specify which issues remained. But experts say that issues like market entry, non-tariff barriers, ease of customs and economic security are being discussed. India is taking bold steps towards the interests of farmers and domestic businessmen.

How much did business grow in 20 years?

According to Gore, India-US trade in goods and services has increased from $20 billion to $220 billion in the last 20 years. That means a jump of more than 11 times. The Ambassador expressed confidence that a deal will be struck as soon as the remaining negotiations are completed.

Is it only about trade that is being discussed?

Gore said that apart from trade, the two countries are also working together on AI, chip making, medicines, quantum computing and essential minerals. He said, "India and America are best placed to shape the world of new technology. Together we will move forward."

What will change from the deal?

If this agreement is reached, Indian exporters will get more discounts in the American market. Doing business in India will also be easy for American companies. Tax and customs hassles will be reduced. Experts believe that this will increase jobs in both the countries and also bring investment. At present, everyone's eyes are on the meeting to be held next week. An officer, on condition of anonymity, said, "99% of the work has been done. Now the deal will be announced as soon as the last screw is resolved."