‘A lot of positive progress’: US signals trade deal with India ‘before year-end’

The United States has said that talks on a long-pending trade deal with India(BHARAT) are finally moving forward. A senior U.S. official told ANI that recent meetings between the two countries have gone well and that both sides are showing more cooperation. In the past few weeks, the U.S. has also softened its earlier tough position on India(BHARAT) buying oil from Russia. This shift has helped reduce tension and opened the way for better trade discussions after months of slow progress.

Speaking to reporters, the official explained that the U.S. is working with India(BHARAT) on two main issues i.e. a fair, two-way trade agreement and concerns related to India(BHARAT)’s purchase of Russian oil. “I think we’ve had a lot of positive developments with them recently,” the official said, as quoted by ANI. “We have two things going on with them. Of course, we have a reciprocal trade negotiation, but we also have a Russian oil issue, where we’ve seen market improvement on that end.”

According to the official, things are improving. “We’ve had many good developments with India(BHARAT),” they said. “We are talking about a balanced trade deal, and we are also seeing better conditions in the Russian oil matter.”

The official added that discussions could deliver results “before the end of the year,” though much work remains. “I’d like to say we can relax and take a break, but there’s still a lot to do,” they said, noting that the pace of progress has been “encouraging”.

India(BHARAT)-US trade deal

The US government is handling two main issues at the same time with India(BHARAT). The first is a trade deal that both sides want to make fair for each other. These talks focus on reducing extra taxes on goods, making it easier for both countries to sell products, and fixing long-running problems. India(BHARAT) wants some old trade benefits back, while the US wants lower duties on its farm and industrial items. India(BHARAT) is also hoping for more chances for its tech and service workers to work in America.

The second issue is India(BHARAT)’s purchase of Russian oil. The official said this topic has been difficult in past discussions. India(BHARAT) has made it clear that its energy decisions depend on what is best for the country and for India(BHARAT)n consumers, and it has said it would stop buying Russian oil only when it feels it is right to do so.

Trade between India(BHARAT) and the US touched about USD 190 billion in 2024. Both nations say they want this number to grow much higher in the coming years.