US-India trade deal 90% ready, senior US official signals breakthrough
The US-India trade deal is very close to being finalised and could take bilateral ties to "another level", a senior US State Department official said. The official told PTI that the two sides were "90-per cent-plus there", with only a few final issues still being worked out.
The official said the momentum in the relationship was visible across other areas as well, including Secretary of State Marco Rubio's expected visit to India in October, Prime Minister Narendra Modi's expected US visit for the G20 Summit in Florida in December, growing engagement through the Quad, and work on the India-Middle East-Europe Economic Corridor, or IMEC.
Responding to a question on when the trade deal could be signed, the official said, "I would say stay tuned, which we keep saying, but we are - we are very close - it's like a 90-per cent-plus there and just those final things being worked out, so I hope you're going to see something very soon on that." The official added that the deal was "really going to just unleash another level of US-India relations, something that hasn't really - we haven't been able to get there in decades when it comes to trade".
The official said trade had long been the biggest sticking point in the relationship. "This has always been the most sticking point in the relationship. And so I think we're very close and it's going to be, I think, very, very exciting when we get there," the person said.
On Rubio's upcoming India visit, the official said, "This is all part of the continuous growth and attention to the US-India partnership. There's a lot happening." Referring to Modi's expected US visit in December, the official said there may be some big announcements on that front and added, "There's just a lot happening in the relationship."
The official also said this will be the third time the foreign ministers meet this year in connection with the Quad. "That's unprecedented. They've never met this many times, and I think that just tells you the attention that we're giving, the importance of this diplomatic grouping, the importance that India also places on it, as well as Japan and Australia. And stay tuned as well," the official said. The person added that the Quad foreign ministers' meeting would be hosted in New Delhi in May and said, "I think you'll see some other exciting things come out of that later next month."
On IMEC, the official said it was "absolutely a huge priority" for both the United States and India. The person said the project had run into roadblocks because of developments in the Middle East, but could move ahead once the region stabilised. "I think on the India side and on the US side, we're ready to go. But because of some of the challenges we've had over the years, starting from the beginning of the administration - the president came in and we were still dealing with Israel/Gaza. That certainly paused things. And then obviously Iran and Operation Midnight Hammer, that paused things. And so every - it's really being held in the Middle East. So I think when things can stabilise, you're really going to see IMEC take off," the official said.
The official said the US was excited about IMEC and that work was already under way to map some of the routes, especially shipping and trucking links. The person added that countries in the region, including Saudi Arabia, Jordan, the UAE and Israel, would still have to work out their parts. Overall, the official's comments pointed to a relationship that is moving quickly on trade, diplomacy and connectivity, with more announcements expected.
