US-India Trade Deal Nears Completion: Technical Issues Remain to be Resolved

US-India Trade Agreement Nears Completion

The proposed US-India trade agreement is now 99% complete, with negotiators working through the final 1% of largely technical and legal issues. US Ambassador to India Sergio Gor announced that he will meet with Commerce and Industry Minister Piyush Goyal on Thursday as both countries push to conclude the pact.

Gor made the comments at Citi's India Investor Conference in Mumbai, where he provided fresh details on the outstanding issues. According to Gor, the remaining 1% of the deal is largely implementation-related matters, including technicalities and legal language. Despite the complexity of the agreement, which spans thousands of items and sectors, Gor expressed confidence that the deal could be wrapped up within weeks.

The ambassador's comments offer the clearest indication yet that negotiations have entered the final stage after months of discussions between the two governments. While declining to disclose the specific sticking points, Gor suggested that both sides are now working through the fine print of a deal that involves tens of thousands of points, including everything from manuals to IT to technology to fuel.

Read also: Market Analysis: Key Stocks to Watch - Narayana Hrudayalaya, ABB India, Federal Bank, Premier Energies, Ather Energy and More

Gor also addressed concerns around tariffs, indicating that India has secured relatively favourable treatment under the interim arrangement. He credited Indian negotiators for their hard bargaining during the talks, saying that for many years India held the line on so many items that the United States was not able to get in.

Beyond the trade pact, the ambassador highlighted a broader deepening of economic and strategic ties between the two countries, particularly in technology, supply chains, and critical minerals. He described the recently announced US-India Critical Minerals Framework as a "massive milestone" and said it would help secure supply chains critical to future technologies and energy systems.

India was also among the first ten countries admitted to Pax Silica, a US-backed initiative focused on trusted supply chains in artificial intelligence, semiconductors, and quantum computing. The ambassador pointed to growing commitments from major American technology firms, including Amazon's plan to invest $35 billion in India by 2030, Microsoft's investments worth $17.5 billion, and Google's recent unveiling of plans for a $15 billion AI hub in the country.

Read also: FirstClub Secures $55 Million in Funding from Peak XV, Sofina, and Other Investors 9 Months After $22 Million Series A Round

Bilateral trade between the two countries has risen from roughly $20 billion to $220 billion over the past two decades, underscoring the growing economic importance of a relationship both governments increasingly view as strategic.