New Delhi : India and the United States are on the verge of finalising a long-awaited bilateral trade agreement, with both sides reportedly resolving most of the contentious issues, a senior government official said on Friday.
According to the official, the discussions have been progressing well, and there are no new hurdles impeding the negotiations. “The negotiators of both countries are currently working on fine-tuning the language of the agreement. There aren’t many differences left for resolution,” the official said, hinting that the much-anticipated deal could be concluded soon.
The latest round of talks took place virtually on Thursday, where Indian and US officials discussed the modalities of the agreement. So far, five rounds of negotiations have been held since March this year.
The proposed trade pact, announced by the leaders of both countries, aims to boost bilateral trade from the current USD 191 billion to USD 500 billion by 2030.
Initially, the first phase of the deal was expected to be signed by the fall of 2025. However, progress was delayed after former US President Donald Trump imposed punitive tariffs on India over its Russian oil imports.
Earlier in the day, Union Commerce Minister Piyush Goyal, speaking at the Berlin Global Dialogue, reaffirmed that India would not rush into any trade agreement under pressure.
“India will not sign any trade deal in a hurry or with a gun to its head,” Goyal asserted, emphasising that trade partnerships must be based on trust and long-term cooperation.
He added, “Trade deals are not only about tariffs. They are about trust, relationships, and long-term business interests.”
