India-US trade deal 99% finalised, says Sergio Gor
The US Ambassador to India shared that negotiations between India and the US have been underway for nearly one-and-a-half years.
Expressing his happiness on the India–US trade deal, Department of Economic Affairs (DEA) Secretary Anuradha Thakur said that a “great deal of uncertainty has been dropped this morning”.
“We are happy that the trade deal has got finalised, removes uncertainty in that space, and is providing an opportunity for two of the largest democracies in the world, for instance, to take this kind of investment,” the Secretary said.
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Speaking on the sidelines of the Federation of Indian Chambers of Commerce and Industry (FICCI) Conference on the Union Budget 2026-27 in New Delhi, Thakur said, “The Indian economy continues to demonstrate strong macroeconomic resilience, despite a global environment that has uncertainty, a great deal of the uncertainty which has dropped this morning.”
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“We all work in the global systems; we are interconnected. In that, India stands out as a macro-economically strong country in the world,” she added.
The DEA Secretary said, ”Going forward, we would like to continue with consistency and commitment on the path that was undertaken.”
“We recognise that this stability and credibility are vital. This enables long-term investment decisions and provides a strong foundation to strengthen our growth trajectory,” she said.
India and the United States have finalised a long-awaited trade deal after nearly a year of prolonged negotiations and multiple rounds of talks, lowering tariffs on Indian imports from 25 per cent to 18 per cent.
Prime Minister Narendra Modi had confirmed the deal in a post on social media platform X, saying, “Wonderful to speak with my dear friend President Donald Trump today. Delighted that Made in India products will now have a reduced tariff of 18 per cent.”
PM Modi spoke to President Trump and thanked him on behalf of the 1.4 billion people of India for the wonderful announcement of reducing tariffs on Indian products to 18 per cent, a statement released by PMO said.
PM Modi said that ”when two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation”.
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