S Jaishankar says India-US trade negotiations have reached the “last mile”, but warns that outstanding issues must be resolved before a deal can be considered final.
US Secretary of State Marco Rubio has also expressed optimism, saying a limited number of issues remain to be settled.
Differences over tariffs, market access, agriculture and energy remain important areas in the broader trade negotiations.
External Affairs Minister S Jaishankar on Thursday said negotiations on the proposed India-US trade agreement had reached their “last mile”, but cautioned that the deal could not be considered final until it was formally concluded. Speaking at the NDTV World Summit in New Delhi on October 22, Jaishankar said negotiating teams from both countries were working through the remaining challenges, while declining to disclose the specific issues still under discussion. His remarks come amid renewed optimism in New Delhi and Washington over the long-pending agreement.
What Did Jaishankar Say About the India-US Trade Deal?
Jaishankar said that US Secretary of State Marco Rubio and India’s Commerce Minister Piyush Goyal had also indicated that the agreement was approaching its final stages. “Well, look, it’s never done till it’s done,” the external affairs minister said, adding that the final phase of negotiations could present difficulties. He said the teams were working through those challenges but declined to elaborate, saying the matter was for the negotiators to resolve.
Rubio has similarly expressed optimism about concluding the agreement. During his recent visit to India, he said only a small number of issues remained to be resolved and that Washington hoped to finalise the deal soon. Rubio held talks with Jaishankar in Mumbai, where the two sides discussed trade, energy, technology, defence cooperation and regional developments. The US State Department said the discussions also covered energy security and opportunities to diversify India’s supply chains.
Why Does the India-US Trade Agreement Matter?
India and the US have been negotiating a trade agreement amid differences over tariffs, market access, agricultural products and energy trade. The proposed pact is intended to strengthen commercial ties between the two economies, with both sides seeking greater market access for their businesses. The negotiations have also unfolded against tensions over India’s purchases of Russian oil and Washington’s broader trade and sanctions policies.
The agreement’s final terms remain unclear, and neither side has formally announced its conclusion. Jaishankar’s remarks suggest that negotiations are continuing, rather than confirming that a deal has been reached. Until the outstanding issues are resolved and the agreement is formally concluded, businesses and exporters on both sides will have to wait for clarity on the final terms and implementation timeline.
