Ambassador Gor said on Friday that the interim India–US trade pact is in its final stages, with both sides working through remaining technical points, while Commerce Minister Piyush Goyal indicated the agreement is likely to be operational in April
US Ambassador to India Sergio Gor on Friday said that the India–US trade agreement will be signed “very soon”.
He also signalled that Washington’s move to rebalance tariffs to 18 per cent on India would advance shortly, stressing that the process would not hinge on a single executive order.
According to a MoneyControl report, speaking at a select media briefing, Gor indicated that both sides were close to formally concluding the deal.
Asked about the timeline, Gor said negotiations were in their final stages, with teams from both countries remaining in close contact.
“The reality is there’s tens of thousands of points. We’re not dealing with a small country. This is one of the biggest economies. And so, we’re thrilled that the interim deal is done. We have a few tweaking points that are left to do, but it’s done. So, the signing will happen soon,” MoneyControl quoted Gor as saying.
He added that talks were between officials from both sides were actively progressing.
“I think we have a great relationship. I think it comes down to multiple things. The first thing is the great friendship between our president and your prime minister. The signing will happen very soon. In fact, even this week, we have both teams talking to each other and actively getting to a place where both will be able to sign,” Gor added.
US–India pact likely to take effect in April: Goyal
Earlier in the day, Commerce and Industry Minister Piyush Goyal said that
US-India interim trade agreement is likely to be signed in March and come into effect in April.
Indian and US officials will begin a three-day meeting in the United States on February 23 to finalise the legal text of the interim trade agreement.
Goyal said that India’s free trade agreements with the United Kingdom and Oman are expected to come into force in April, while the agreement with New Zealand is likely to be implemented in September.
Tariff reduction to 18%
Responding to questions on tariff adjustments — including references during the briefing to duties being lowered to 18 per cent — Ambassador Gor said any rebalancing would be carried out through several policy channels.
“On the tariffs being rebalanced, there’s multiple things. There are multiple mechanisms. It’s not one executive order. It’s not just one piece of paper. It’s multiple things, multiple departments, multiple areas. And so that will also happen very soon,” Gor said.
With inputs from agencies
End of Article
