Washington: The United States and India are close to reaching a trade agreement, US President Donald Trump said on Wednesday, adding that the proposed deal would be different from earlier trade pacts.
Speaking to reporters at the Oval Office, Trump said both countries wanted to reach an agreement and indicated that negotiations were nearing a conclusion.
“They want to make a deal. We’re going to make a deal. Pretty close, yeah,” Trump said when asked about the progress of the talks.
He added that the agreement would be “a much different kind of deal” from those reached previously by the United States.
The remarks come as officials from both countries continue discussions on strengthening economic ties. US Secretary of State Marco Rubio is visiting India, with talks covering trade, energy, technology, defence and people-to-people relations.
India-US Trade Talks Continue Amid Tariff Changes
Union Commerce Minister Piyush Goyal met US Trade Representative Jamieson Greer earlier this month in Milwaukee and Washington to discuss the details of the proposed trade agreement.
India and the United States had announced in February that they had finalised the framework for the first phase of their Bilateral Trade Agreement (BTA). However, changes in the US tariff landscape have led to further negotiations.
The two countries are working to resolve the remaining issues before concluding the agreement. The Ministry of External Affairs (MEA) said both sides had welcomed the progress made in the negotiations and reaffirmed their commitment to an early conclusion of the trade pact.
Marco Rubio Calls for Greater Energy and Technology Trade
During his visit, Rubio urged India to expand energy trade with the United States and increase purchases of American technologies and systems.
External Affairs Minister S Jaishankar hosted Rubio for wide-ranging discussions after the US Secretary of State arrived in Mumbai. The visit comes at a time when bilateral relations face challenges over Washington’s trade policies and tighter immigration rules.
Ahead of his meeting with Jaishankar, Rubio described India as a crude oil refining “superpower” and advocated for India to process more Venezuelan crude. He is also scheduled to visit the Jamnagar refinery owned by Reliance Industries Ltd.
Speaking briefly to the media before the meeting, Rubio said only a small number of issues remained to be resolved in the trade agreement. He expressed hope that the deal would be finalised soon.
After the talks, Jaishankar said the two sides had exchanged views on advancing bilateral ties, with a focus on trade, energy, technology, defence and people-to-people relations.
According to the US State Department, the discussions also covered regional and global developments, including the situation in West Asia.
Trump’s latest remarks signal continued optimism from the US side, although the agreement has yet to be formally concluded.