On Tuesday, Donald Trump told reporters at the White House that the United States and India are on the brink of finalising a Bilateral Trade Agreement after a year‑long stalemate.
The comment followed Secretary of State Marco Rubio’s visit to Mumbai, where he and External Affairs Minister S. Jaishankar discussed trade, defense, technology and energy security. Rubio said the alignment between the two nations is "extraordinary," while Jaishankar noted that both sides are "encouraged" by the progress.
Negotiations for the BTA began in 2015, but a lingering tariff dispute and the U.S. decision to waive 100% duties on Russian oil—an action that could impact Indian imports—kept the talks stalled. Both parties now believe the technical details are almost settled.
Analysts say the agreement could unlock roughly $200 billion in trade and create over 1.2 million jobs, a promise that has drawn praise from small exporters in Delhi and a farmer in Rajasthan who hopes for better market access.
Both sides have agreed to finalise the annexes over the next weeks, with a signing ceremony expected in the first week of November, after which the treaty will be formally announced.