The India-US trade deal is nearing completion, US President Donald Trump said, offering the clearest recent indication that more than a year of negotiations could soon produce an agreement between the two countries.
Speaking to reporters at the White House on Tuesday local time, Trump said the two sides were “pretty close” to finalising a deal and added that it “could be a much different kind of deal”. He was responding to questions about the prospects of an agreement that has been under negotiation for more than a year.
“They want to make a deal. We’re going to make a deal. Pretty close, yeah,” Trump said.
The comments came as US Secretary of State Marco Rubio also described the negotiations as “incredibly close” during his official visit to India. Rubio held wide-ranging discussions with External Affairs Minister S Jaishankar in Mumbai on Tuesday, with both sides reviewing the broader India-US relationship and reiterating their commitment to concluding the proposed Bilateral Trade Agreement at an early date.
The Ministry of External Affairs said the discussions covered trade, defence, technology and energy security. In a statement, the ministry said the two ministers “welcomed the progress made in negotiations on the India–US Bilateral Trade Agreement (BTA) and reaffirmed their commitment to working towards its early conclusion”.
Rubio’s visit took place against the backdrop of the US Freedom 250 Reception hosted by US Ambassador to India Sergio Gor in Mumbai. The US secretary of state is visiting India from October 20 to 21 at Jaishankar’s invitation. It is his second visit to the country after an earlier trip to New Delhi in May.
The talks have particular significance for Mumbai, which Rubio described as India’s financial and commercial hub. He said many companies based in the city invest in and trade with the United States, linking the negotiations to the commercial networks concentrated in India’s largest financial centre.
At the reception, Rubio described the strategic alignment between India and the United States as “extraordinary” and said the two countries had an opportunity to influence geopolitics, economics, trade and commerce for decades. He also acknowledged that the countries would not agree on every issue.
“No two nations on Earth will ever be perfectly aligned on every issue, and there will be times and points of disagreement,” Rubio said. “But on the core issues that matter, the core issues that define the national interests of both India and the United States, the alignment between our countries is extraordinary.”
The MEA said Rubio’s visit reflected sustained momentum in high-level exchanges and highlighted the importance both countries attach to advancing the India-US COMPACT for the 21st century. The US State Department said Rubio would next travel to Jamnagar in Gujarat for discussions that will include enhanced energy cooperation.
Neither side has announced the final terms, signing date or implementation details of the proposed trade agreement. The next formal milestone will depend on the conclusion of negotiations and any subsequent announcement by the Indian and US governments.
