India-US Trade Deal “Around the Corner” as Jaishankar, Garcetti Hold Talks
India and the United States are on the verge of finalising a landmark trade agreement, with US Ambassador Eric Garcetti stating the deal is “around the corner.” The optimism follows a high-level meeting between External Affairs Minister S. Jaishankar and Ambassador Garcetti, where they discussed strengthening bilateral ties, defence, and technology cooperation.
Key Takeaways
- US Ambassador Eric Garcetti says the India-US trade deal is imminent, using the phrase “around the corner.”
- EAM S. Jaishankar and Garcetti met to discuss defence, technology, and global issues.
- The deal, in negotiation since 2018, is seen as a major strategic win for both democracies.
- Bilateral trade between the nations reached USD 191 billion in 2023.
High-Level Discussions Signal Progress
The meeting between External Affairs Minister Jaishankar and US Ambassador Garcetti underscores the momentum behind the trade negotiations. Jaishankar highlighted the broad agenda, covering bilateral ties with a focus on defence and technology.
“Good to meet US Ambassador @ericgarcetti today. Discussed our bilateral ties, including defence and technology cooperation. Also spoke about regional and global issues,” Jaishankar said in a post on X.
“Looking at the House Numbers Now”
Ambassador Garcetti provided a vivid metaphor for the advanced stage of talks, suggesting the final details are being ironed out.
“We are very close to it. I think we are around the corner. I think we are in the same neighbourhood now. I think we are on the same street now. I think we are looking at the house numbers now,” Garcetti said at an event in Delhi.
A Strategic Win for Democracies
Garcetti emphasised that the impending agreement transcends mere commerce, representing a partnership built on shared democratic values.
“I think it will be a big win for both countries. I think it will be a big win for the world to see that the two largest democracies can come together and create a trade deal that is not just about trade, but about values, about trust, about transparency, about the rule of law,” he said.
Foundations of a Robust Partnership
The United States is already India’s largest trading partner, with bilateral trade hitting USD 191 billion in 2023. Negotiations for a comprehensive trade deal have been ongoing since 2018. The final agreement is poised to significantly boost trade and investment flows between the two economic powerhouses, marking a new chapter in their strategic partnership.
