India and the United States are continuing negotiations to resolve differences over their proposed bilateral trade agreement, with discussions moving towards a possible “landing point”, External Affairs Minister S Jaishankar said.
Speaking at the Bloomberg New Economy Forum in New Delhi on Tuesday evening, Jaishankar said Indian and American officials remained engaged in ironing out outstanding issues. He added that the core fundamentals of the India-US strategic partnership remained unchanged.
His remarks came more than a week after Finance Minister Nirmala Sitharaman described the trade negotiations as having reached a “plateau”, raising questions about the pace of progress.
Jaishankar said a few issues remained unresolved but declined to disclose details publicly.
He confirmed that India's Commerce and Industry Minister, the US Trade Representative (USTR) and other officials were continuing discussions to move the proposed trade pact forward.
The negotiations also involve a competitive dimension, he noted. India must consider not only the terms it can secure from Washington but also how its agreement compares with the trade arrangements the US reaches with competing economies.
Jaishankar said the picture remained incomplete because not all countries had finalised their respective agreements with Washington.
Despite the outstanding differences, he indicated that the negotiations were moving towards a possible resolution.
Jaishankar's comments follow Sitharaman's assessment that negotiations had reached a “plateau”. The contrasting descriptions suggest that, while progress may have slowed, discussions between the two sides are continuing.
Neither minister disclosed the specific issues holding up an agreement or indicated a definite timeline for its conclusion.
Jaishankar emphasised that the broader strategic relationship between India and the US remained on a stable footing despite the challenges in trade negotiations.
The proposed agreement is part of wider efforts to strengthen economic ties between the two countries. Resolving outstanding differences could help improve market access and provide greater clarity for businesses operating across both economies.
However, the reference to a “landing point” does not amount to confirmation that a deal has been finalised. The agreement will depend on the outcome of ongoing negotiations and the resolution of remaining issues.
