US-India trade deal at ‘very advanced stage’: Indian minister
A Promising Trade Deal Between India and the U.S. in the Works
India’s Minister of Petroleum and Natural Gas, Hardeep Singh Puri, revealed in an interview with CNBC that a highly anticipated trade agreement between India and the U.S. is progressing well.
Puri expressed optimism about the status of the deal, stating that negotiations are at an advanced stage. While he did not provide a timeline for when the agreement might be finalized, he emphasized the need for patience and a positive outlook.
Highlighting the strong relationship between India and the U.S., Puri underscored India’s support for a multilateral trading system. This commitment was exemplified by the recent trade deal with the European Union, which was announced on the same day.
According to Puri, maintaining an open stance on trade would benefit all parties involved, including the United States. He suggested that there is an economic opportunity for countries seeking trade agreements, and emphasized the mutual advantages of fostering trade relations.
Despite the positive developments in trade agreements, there may be concerns in India regarding the reaction of U.S. President Donald Trump to the new deal with the EU. The U.S. has imposed tariffs on imports from both India and the EU, with India facing higher levies due to its oil purchases from Russia.
While Trump has not publicly commented on the EU-India trade deal, Treasury Secretary Scott Bessent criticized the EU for moving forward with the agreement. Bessent cited the imposition of tariffs on Indian imports as a significant sacrifice made by the U.S. in the context of trade relations.
