Washington has indicated that talks over the long-awaited trade agreement between India and the United States could deliver results by the end of this year. The India-US trade negotiations have witnessed "a lot of positive developments" in the recent round of talks after the Donald Trump administration scaled back from its earlier confrontational stance over India's Russian oil purchases, according to a report by news agency ANI.
Quoting a senior US official, the report said that Washington was working on two parallel issues with New Delhi -- a reciprocal trade agreement and addressing concerns over India's purchases of Russian oil.
"I think we've had a lot of positive developments with them recently. 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," the official said on Thursday.
The official noted that discussions may deliver results "before the end of the year", as the talks are advancing at an "encouraging" pace.
"I'd like to say we can relax and take a break, but there's still a lot to do, but there's a lot of positive progress going on already, and we may have more to come before the end of the year," he added.
"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".
"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."
Two Parallel Trade Issues
The US administration is managing two parallel issues with India. The first involves reciprocal trade negotiations, which typically aim to balance tariffs and expand market access between both economies. The talks are aimed at addressing long-standing irritants between New Delhi and Washington, including duties on American agricultural and industrial goods, India's call for restored trade preferences, and greater access for Indian services professionals in the US.
The second concern, according to the official, is the "Russian oil issue". India's Russian oil imports have been a sore point in India-US trade talks. India has said it would halt Russian oil purchases, stating that the country's energy sourcing is guided by its national interests and the need to protect Indian consumers.
Trade between the US and India reached approximately USD 190 billion in 2024, with both nations expressing ambitions to significantly increase bilateral commerce.
