India and the United States are in the final stages of concluding an interim bilateral trade agreement, Foreign Secretary Vikram Misri said on Thursday, a day after Prime Minister Narendra Modi and US President Donald Trump held talks on the sidelines of the G7 Summit. Misri said both leaders reviewed progress on the proposed trade pact and instructed their respective teams to expedite negotiations and finalize the agreement at the earliest.
According to Misri, substantial progress has already been made, and US Trade Representative Jamieson Greer is scheduled to visit India next week to carry forward the discussions. The development comes after Trump said the two countries were “very close” to reaching a trade deal and praised Modi as one of the toughest negotiators. He also highlighted growing economic cooperation and Indian investments in the United States.
The trade agreement is expected to strengthen commercial ties between the world’s two largest democracies and reduce uncertainties that have emerged during negotiations. Meanwhile, India is also set to implement its Comprehensive Economic and Trade Agreement (CETA) with the United Kingdom from July 15. Prime Minister Modi described the India-UK trade pact as a historic milestone that will boost bilateral trade, investment, and economic opportunities across key sectors.
