India and US Near Completion of Trade Pact, Officials Say Deal Over 90% Finalized
A U.S. official said the India-U.S. trade agreement is more than 90% done, with only a few issues left before signing.
A senior U.S. official told PTI that the bilateral trade agreement with India is more than 90% finalized, with only a handful of technical details still under negotiation. The official expressed optimism that a formal deal will be announced in the near future, possibly aligning with Prime Minister Narendra Modi's scheduled trip to the United States for the G20 summit in Florida. He emphasized that the agreement could unlock a new level of economic ties that have eluded the two countries for decades.
The official also referenced upcoming high-profile diplomatic events, such as the Quad foreign ministers' meeting in New Delhi and the India-Middle East-Europe Economic Corridor, which remains on hold due to instability in the Middle East. He indicated that once regional conditions improve, the corridor's shipping and trucking routes will be mapped out, involving Saudi Arabia, Jordan, the UAE and Israel.
Why it matters
Finalizing the pact would deepen economic ties and could reshape trade flows between two of the world's largest economies.
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