India, US 'Very, Very Close' To Ink Trade Deal: US Deputy Assistant Secretary

· Free Press Journal

The United States has said it is “very, very close” to finalising a landmark trade agreement with India, signalling significant progress in ongoing negotiations aimed at deepening economic ties between the two countries.

US Deputy Assistant Secretary in the Bureau of South and Central Asian Affairs, Bethany Poulos Morrison, made the remarks while speaking at a public event.

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Morrison recalled that in February 2026, the United States formally announced its intention to conclude a historic trade deal with India. She stated that discussions have now reached an advanced stage, adding, “We are very, very close.”

According to her, the proposed agreement is designed to open India’s vast market of 1.4 billion people to American goods under “reciprocal and mutually beneficial” terms.

She further emphasised that the deal aligns with Washington’s broader economic vision under the “Mission 500” initiative, which targets $500 billion in bilateral trade by 2030.

Morrison said the US administration is pushing forward with urgency to achieve this goal, reflecting the strategic importance of the India-US economic partnership.

Highlighting recent trade performance, Morrison described 2025 as a “historic year” for bilateral commerce.

She noted that total goods trade between India and the United States reached $149 billion, marking a substantial increase compared to the previous year.

US exports to India also rose by 9.8 percent, indicating strong momentum in two-way trade flows.

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On the investment front, Morrison pointed out increasing participation from Indian companies in the US economy.

She referred to the SelectUSA initiative, where Indian firms reportedly committed around $20 billion in new investments in the United States.

Out of this, $1.1 billion was identified as immediate investment inflows, underscoring growing corporate engagement between the two nations.

She added that both governments are actively working to strengthen economic cooperation, with sustained efforts underway to expand trade, investment, and market access.

The remarks highlight a broader push by both sides to accelerate negotiations and resolve outstanding issues in the proposed interim trade agreement.

Meanwhile, parallel diplomatic engagements continue on the ground. US Trade Representative Jamieson Greer met India’s Commerce and Industry Minister Piyush Goyal in New Delhi on Tuesday to further discussions on the Interim Trade Agreement.

The deal was initially conceptualised during talks between US President Donald Trump and Indian Prime Minister Narendra Modi.

The US Embassy in India also reiterated its position on social media platform X, stating that Washington remains committed to securing a fair and reciprocal trade arrangement that expands market access for American exporters while ensuring mutual benefits for both countries.

Together, these developments point toward steady progress in one of the most closely watched trade negotiations globally.

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