US confident of closing India trade pact in coming weeks, says Ambassador Sergio Gor
The United States expressed confidence in finalizing an interim trade agreement with India within weeks, with Ambassador Sergio Gor stating negotiations are accelerating. Indian companies have committed over $20 billion in investments across sectors like technology and pharmaceuticals, signaling stronger economic ties between the two nations.
US Ambassador to India Sergio Gor stated on Thursday that an interim trade agreement between the United States and India could be finalized in the coming weeks. His remarks came after Indian companies pledged over $20 billion in investments in the US across technology, pharmaceuticals, steel, automotive, energy, and advanced engineering sectors. Speaking at the Annual Leadership Summit of the American Chamber of Commerce in India in New Delhi, Gor highlighted that negotiations had accelerated significantly. He emphasized that the interim trade agreement would expand market access, reduce trade barriers, and provide greater certainty for businesses in both economies. Gor noted that Indian investment in the US now extends beyond exports, with major conglomerates like Tata Group, Reliance Industries, Infosys, Wipro, and JSW Steel establishing manufacturing facilities and research centers. He compared the current pace of negotiations favorably to India’s 19-year-long trade talks with the European Union. Union Commerce and Industry Minister Piyush Goyal confirmed that a US delegation would visit India next month for further technical discussions. He also clarified that while US Secretary of State Marco Rubio would visit India from May 23 to strengthen cooperation in trade, defense, and technology, he would not lead the trade negotiations directly. Both governments are intensifying diplomatic efforts to resolve outstanding trade disputes and secure the interim pact before broader negotiations begin. An Indian delegation recently traveled to Washington to advance talks, and another US delegation is expected to visit India soon.
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