India and the United States have completed about 99 per cent of negotiations for an interim trade agreement, with only the final one per cent left to be resolved, US ambassador Sergio Gor said on Friday.
He expressed confidence that the deal could be signed in the coming weeks as both sides move closer to its conclusion.
Speaking at the Indian Institute of Technology (IIT) Delhi, Gor said a US delegation led by the country’s chief trade negotiator will visit India from June 1 to 4 to continue discussions on the proposed agreement. The visit follows trade talks held in Washington in April between officials from the two countries.
Addressing an event on the theme “US India TRUST Initiative: Advancing Partnership in Research and Innovation”, Gor said Indian negotiators had recently travelled to Washington to finalise the remaining details of the agreement. “Ninety nine per cent of the trade deal is complete, with only the last one per cent left to be finalised,” he said, adding that both countries expect further progress during the upcoming round of talks.
Gor highlighted the significant growth in economic ties between India and the US, noting that bilateral trade in goods and services has expanded from around $20 billion to more than $220 billion over the past two decades. He said the increase reflects stronger economic integration and a deepening partnership between the two nations.
He added that President Donald Trump is focused on expanding trade in a manner that creates greater opportunities for American businesses and workers, while describing India as one of the United States’ key trading partners.
India and the US had agreed on a framework for an interim trade arrangement in February. The framework also reaffirmed both countries’ commitment to continue negotiations on a broader bilateral trade agreement.
According to the commerce ministry, discussions are continuing on issues such as market access, customs procedures, non tariff barriers, trade facilitation and economic security cooperation, alongside efforts to finalise the interim arrangement.
Gor also emphasised the growing importance of cooperation in areas such as artificial intelligence, digital trade, advanced manufacturing, energy and emerging technologies. He said the US and India are uniquely positioned to lead future technological developments and should work towards making their partnership one of the defining strategic relationships of the 21st century.
Referring to the TRUST initiative, or Transforming the Relationship Utilising Strategic Technologies, launched during Prime Minister Narendra Modi’s meeting with Donald Trump earlier this year, Gor said the programme is aimed at promoting innovation among trusted partners while safeguarding sensitive technologies.
On artificial intelligence, he said the US Commerce Department has restored the flow of advanced AI chips to trusted partners and that both countries are working together on data centre development and regulatory measures to support innovation and investment.
The ambassador also highlighted India’s role in the pharmaceutical sector, noting that the United States imports nearly 40 per cent of its generic medicines from India. He added that US diplomatic missions in India have helped secure investment commitments worth $20.5 billion for the coming year, including $19 billion in pharmaceuticals.
Space cooperation remains another important area of engagement, Gor said, adding that collaboration in the sector supports technological innovation, addresses emerging security challenges and contributes to strategic stability.
He also welcomed India’s efforts to modernise its export control framework, saying stronger and better aligned export control systems would help lay the foundation for deeper technological cooperation between the two countries.
