The United States said an interim trade agreement with India could be finalised “in the coming weeks,” US Ambassador to India Sergio Gor told delegates at the American Chamber of Commerce Annual Leadership Summit in New Delhi, signalling a faster pace in talks aimed at deepening bilateral trade and investment ties. Gor also disclosed that Indian companies have committed more than $20 billion in investments across sectors such as technology, pharmaceuticals, steel, automotive manufacturing, energy and advanced engineering, underscoring growing commercial engagement between the two democracies.
Speaking in New Delhi, Gor said negotiations have accelerated and entered a critical phase that could lead to a broader Bilateral Trade Agreement (BTA). “President Trump’s goal is to facilitate bilateral trade in a way that creates lucrative opportunities for American businesses and workers. Our current interim trade agreement is on the table to be finalised, unlocking prosperity for both nations,” he said.
The proposed interim arrangement is intended to expand market access, lower trade barriers and provide greater certainty for businesses and investors on both sides, Gor added. He pointed to a recent surge of Indian firms treating the US not just as an export market but as a long-term manufacturing and investment base. Major Indian conglomerates — including Tata Group, Reliance Industries, Infosys, Wipro and JSW Steel — have expanded US operations through factories, research centres and infrastructure projects.
Gor noted that an Indian delegation travelled to Washington last month to advance talks, and said a US delegation is expected to visit India next month for further negotiations. He emphasised the relatively rapid timeline for India–US talks, saying talks have been under way for a year and a half and predicting finalisation “in the coming weeks and months,” while comparing that to nearly 19 years taken in negotiations with the European Union.
Union Commerce and Industry Minister Piyush Goyal confirmed a US delegation will visit India next month and described negotiations as “active and constructive” after recent meetings in Washington. He clarified that US Secretary of State Marco Rubio, scheduled to visit India from May 23, would not directly lead the trade talks; the chief US negotiator will arrive separately with another delegation. Rubio’s visit is expected to focus on cooperation in trade, defence, energy and strategic technologies.
The talks proceed against a shifting global trade backdrop. The interim pact framework was set out in a joint India–US statement on February 7, but a recent US Supreme Court ruling removed reciprocal tariffs that had been a bargaining tool for the Trump administration. Following that ruling, Washington imposed a 10% auxiliary duty on inbound goods under Section 122 of the Trade Act for a temporary 150-day period beginning February 24 and launched Section 301 investigations into industrial overcapacity and labour practices. Indian officials have submitted formal responses to those probes, and consultations continue as negotiators work to resolve remaining sticking points.
Officials say the push for a pact comes as India–US economic engagement expands beyond traditional trade into aligned supply chains, technology partnerships and strategic investments, reflecting broader geopolitical and economic fragmentation.
Original Source: https://www.firstpost.com/business/india-us-trade-pact-sergio-gor-interim-agreement-coming-weeks-14013847.html
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Publish Date: 2026-05-22 06:42:00
