New Delhi: US Ambassador to India Sergio Gor has given a positive signal on the signing of the US-India Trade deal saying he hopes that the deal would be inked in the next few weeks and months.
Speaking at the US-India TRUST Initiative at the Indian Institute of Technology in Delhi, Gor said the growing trade ties between the two nations reflects stronger economic integration.
"In just over two decades, bilateral trade has grown from 20 billion to over 220 billion in goods and services. That's not just volume; it reflects deeper, broader engagement and stronger economic integration. Our investment and trade expansion offers transformative potential. President Trump's goal is to facilitate bilateral trade in a way that creates unprecedented opportunities for American businesses and workers. Our current interim trade agreement is on the table for us to finalize. And that will unlockprosperity for both of our countries," he said
"Just last week, India had sent a team to Washington D.C. to finalize the last 1% of that trade deal. Next week we will welcome a U.S. delegation here to continue those talks. We fully expect that the trade deal will be signed over the next few weeks and months," he added.
Gor said that the growth in bilateral trade is driven by innovation and high-value sectors involving large corporations and start-ups.
"Today, the United States is one of India's largest trading partners and India is among the top trading partners of the United States. Importantly, this growth is increasingly driven by innovation, investment, and high-value sectors. From digital trade and advanced manufacturing to energy and emerging technologies, linking not just large corporations but also start-ups and entrepreneurs," he said.
Speaking on the issue of collaboration in the sphere of critical minerals, the US Envoy acknowledged India setting up the National Critical Minerals Mission and highlighted the coming together of researchers to exchange knowledge.
"Critical minerals touch on nearly all of these efforts in emerging technologies. They're also essential for defence technologies and enable the energy systems that power our economies. Last year's, our leaders agreed to accelerate collaboration in research and development and promote investment across the entire critical mineral value chain, as well as deepen cooperation in exploration, processing, and recycling. Since then, India launched its National Critical Minerals Mission. In February, Secretary Rubio hosted the forum on Resource Geo-Strategic Engagement, known as FORGE, with representative from 54 countries and the EU Commission, including Minister Jaishankar on his travel to Washington. As both our countries pursue domestic efforts to attract investments for mining processing, refining, and recycling, we each contribute to a more globally diversified and secure market. Through scientific exchanges, such as recently hosted by IIT Roorkee, we're bringing our researchers together to exchange knowledge on respective research, as well as engaging students in both countries to develop the next generation to lead the technological advances," he said
IIT Roorkee, we're bringing our researchers together to exchange knowledge on respective research, as well as engaging students in both countries to develop the next generation to lead the technological advances," he said
"The message that we want to send to everybody here and across the country is the United States is paying attention. The United States is involved, and the United States comes to India with an open hand. We're only beginning to realize the full potential of this partnership. There are significant opportunities ahead to scale it into a more seamless, resilient, and transformative economic relationship. India's growing economy and significant infrastructure's needs align well with American expertise in energy, aviation, R&D, advanced manufacturing, and digital infrastructure," he said.
"We need to deepen research partnerships. The work happening in labs and classrooms at institutions like IIT Delhi is the foundation of everything I've described today. We need more joint research projects, more faculty working together, more graduate students solving problems that matter to both of our countries, and accelerated pathways to commercialization," Gor added.
Source Name : Economic Times