In a significant development, US Ambassador Sergio Gor declared that the pending India-US trade agreement is "99% done," anticipating its signing in the coming weeks. This announcement was made during a speech at the Indian Institute of Technology (IIT) in New Delhi, highlighting the strengthening bilateral ties between the two countries.
Gor noted that an American delegation, led by the chief trade negotiator, will visit India from June 1-4 to finalize the remaining details of the deal. This follows an earlier visit by Indian officials to Washington aimed at addressing the last aspects of negotiations.
The ambassador emphasized the importance of the interim trade agreement, stating, "It will unlock prosperity for both of our countries." He pointed out that bilateral trade has dramatically increased from around 20 billion USD to over 220 billion USD over the last two decades, showcasing a deeper engagement and stronger economic integration.
Gor expressed optimism about the future of US-India relations, citing opportunities in sectors such as artificial intelligence, pharmaceuticals, and advanced manufacturing. He stated that President Trump's administration sees India as a vital partner, capable of leading technological innovation and economic growth.
He further underscored the potential impact of the trade deal on American businesses and workers, noting that 40% of US generic medicines are imported from India, reflecting the trust and interdependence between the two nations. Gor remarked, "We could not be luckier to have a partner like India," stressing the strategic importance of this partnership in a rapidly changing global landscape.
As negotiations continue, the prospect of the agreement being signed soon is poised to serve as a catalyst for driving further economic collaboration and innovation between the United States and India.
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