The interim trade agreement between India and the United States is set to be finalised, said US Ambassador to India Sergio Gor adding that he is confident the trade deal will be finalised over the next weeks or months, bringing stability and opportunity for both the sides.
“Both sides look to finalise details of a Bilateral Trade Agreement (BTA) that will truly unlock potential of our bilateral relationship by expanding market access, reducing barriers, and creating greater certainty for businesses on both sides of the table,” he said.
It’s been a year and a half since both sides started negotiations. He said the trade deal with the European Union (EU) took almost 19 years to add perspective on the timeline.
Ambassador Gor said the agreement will strengthen supply chains and catalyse new investment and drive sustained, inclusive growth, bringing tangible benefits to our industries, workers, and economies.
He also hailed the Indian firms for investment in India saying, he was thrilled to see Indian firms commit more than $20 billion in investments in America at the annual Select Investment Summit.
“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.
India’s gems and jewellery exports declined 9.07 per cent year-on-year to USD 2,226.45
He further noted that Indian companies continue to expand in the US, particularly in pharmaceuticals, manufacturing, and technology, and pointed out that that every single week, CEOs from the US visit their Embassy in New Delhi saying that they want to move their company from another country to India.
Gor also talked on nuclear energy too and said that big things are coming up for India and the United States in terms of collaboration on Nuclear energy.