Mumbai: The long-awaited bilateral trade agreement between India and the United States appears to be in its final stages, with US Ambassador to India Sergio Gor stating that negotiations are “99 per cent complete” and that both countries are now working on the remaining details.
Speaking on the sidelines of the CITI India Conference 2026 in Mumbai, Gor expressed confidence that the agreement would be concluded soon and described it as a mutually beneficial arrangement for both nations.
Final phase of negotiations underway
According to Gor, the remaining one per cent of the negotiations primarily involves technical legal language and implementation timelines rather than major policy disagreements.
He said both countries have made significant progress in resolving key issues and are focused on finalising the finer aspects of the agreement. The ambassador added that trade negotiations typically require compromises from both sides and emphasised that the ongoing discussions have been conducted constructively.
Gor also praised India’s negotiating team, noting that the talks had been handled professionally and that both sides were committed to reaching a successful conclusion.
Piyush Goyal echoes optimism
The ambassador’s comments come shortly after Union Commerce and Industry Minister Piyush Goyal made similar remarks regarding the progress of the proposed trade pact.
Speaking earlier this week, Goyal said that most of the major issues had already been resolved and expressed confidence that the first tranche of the bilateral trade agreement would be signed soon.
He stated that once the initial phase is completed, India and the United States would move towards discussions on a broader and more comprehensive trade framework aimed at expanding economic cooperation between the two countries.
Strategic importance of the trade agreement
The proposed bilateral trade agreement is being viewed as a significant milestone in India-US economic relations. Trade experts believe the pact could help improve market access, reduce trade barriers and strengthen investment flows between the two economies.
The agreement is also expected to provide greater certainty for businesses operating in both countries, particularly in sectors such as manufacturing, technology, agriculture, pharmaceuticals and digital services.
With India emerging as one of the fastest-growing major economies and the United States remaining one of its largest trading partners, policymakers on both sides see the deal as an opportunity to deepen commercial ties and create new growth opportunities.
High-level meetings expected in Delhi
Gor is expected to return to New Delhi for further discussions with Indian officials, including meetings with Goyal and members of a visiting US trade delegation.
The delegation is currently engaging with officials from the Ministry of Commerce and the Ministry of External Affairs to address the remaining technical aspects of the agreement.
Officials familiar with the negotiations believe the finalisation of the first phase could pave the way for broader economic cooperation in the coming years.
Modi-Trump relationship highlighted
During his interaction with the media, Gor also highlighted the personal relationship between Prime Minister Narendra Modi and US President Donald Trump.
He said the strong rapport between the two leaders has played an important role in advancing discussions and helping both countries move closer to an agreement.
According to Gor, the growing strategic partnership between India and the United States has created a favourable environment for expanding trade and investment ties.
Comments on Iran and regional stability
The ambassador also addressed concerns regarding tensions involving Iran and their impact on global energy markets.
He reiterated Washington’s opposition to Iran acquiring nuclear weapons and described the issue as a key strategic concern for the United States. Gor argued that regional stability and secure global trade routes remain important priorities for the US administration.
Rising geopolitical tensions in West Asia have contributed to concerns over energy prices and supply chain disruptions, making stronger economic cooperation between major partners such as India and the United States increasingly significant.
Outlook remains positive
With both Indian and American officials indicating that negotiations are nearly complete, expectations are growing that the first phase of the bilateral trade agreement could be finalised in the near future.
If concluded, the deal would mark one of the most significant developments in India-US economic relations in recent years and could serve as the foundation for a more comprehensive trade partnership in the future.
