Highlights:
- US envoy says trade deal is in its final 1 percent.
- Negotiations have continued for nearly 18 months.
- Agreement aims to bring greater certainty for businesses.
- Bilateral trade has grown from $20 billion to $220 billion.
- Trump and Modi target $500 billion in two-way trade.
The United States and India are in the final stages of negotiating a landmark bilateral trade agreement, with only a few issues left to resolve, according to US Ambassador to India Sergio Gor.
Speaking at the US-India Strategic Partnership Forum Leadership Summit in Washington on Tuesday, Gor said the agreement is almost complete after nearly 18 months of negotiations. He expressed confidence that both countries would soon reach the finish line.
"We are in the final steps on this deal. Most of this deal is complete. There are a few items that remain on both sides. It's in the last 1 per cent of that deal," he said.
Gor acknowledged that some observers have questioned why the negotiations have taken so long. However, he pointed to other international trade agreements that took much longer to complete.
"People ask, Why is this taking so long? We've been at this for a year and a half. To put it into perspective, the European trade deal took 20 years. So no matter what, as long as we beat the European deal, I think we're in good shape. But I'm determined to bring this to a close," he said.
The ambassador said the proposed agreement would create greater stability for businesses that depend on trade between the two countries.
"It's also a deal that, frankly, for a lot of individuals in this room, brings stability. For those of you that trade bilaterally, it's something that's incredibly useful and helpful," Gor said.
He noted that trade officials from both governments have been meeting frequently in recent weeks to push the negotiations forward.
"As I mentioned, the trade deal, we're close to getting it done through very active negotiations. I mean, pretty much the last three weeks we've had travels back and forth. Minister Goyal was in New York... followed by Ambassador Greer in Delhi right afterwards," he said.
Gor also highlighted the rapid growth in economic ties between the United States and India over the past two decades.
"Over the past two decades, our bilateral trade has increased from USD 20 billion to USD 220 billion. That's an incredible job, and it's also something that we're gonna take to a much higher level," he said.
He pointed to the ambitious goal announced by President Donald Trump and Prime Minister Narendra Modi to more than double bilateral trade in the coming years.
"What President Trump and Prime Minister Modi announced as a bilateral trade goal of USD 500 billion over the next few years, that's an astounding number that is unmatched," Gor said.
He added, "We are ready to do so much with India. India exports more to the United States than anywhere else by far."
Beyond trade, Gor emphasized the strength of the broader US-India relationship. He credited the close personal rapport between President Trump and Prime Minister Modi for helping deepen cooperation between the two countries.
The ambassador also said President Trump continues to speak warmly about his previous visit to India.
"His (Trump's) visit last time was one of the most remarkable visits that he continues to talk about. He holds it in a very fond place. It's an incredible thing. So, I look forward to having the President visit us back in India," Gor said.
Looking ahead, he announced that foreign ministers from the Quad nations are expected to meet in the Philippines in about two weeks, signaling continued cooperation between the United States, India, Japan, and Australia on regional and strategic issues.
