India Ready To Finalize Trade Pact, Waits On U.S. Response: Jaishankar

As both nations strive to complete the first phase of the trade agreement by the fall of 2025, External Affairs Minister S. Jaishankar has underlined India's renewed urgency in securing a deal with the United States. By 2030, the two parties hope to increase bilateral trade to $500 billion.

India is taking the initiative in the talks, Jaishankar said Friday at the Carnegie Global Tech Summit 2025 in New Delhi, while implying that the United States under President Donald Trump seems to be taking a more measured approach. But he was hopeful that a practical solution could be found.

After four years of negotiations, the prior attempt to reach an agreement during Trump's first term was unsuccessful, Jaishankar admitted. He emphasized, however, that this time is different because, shortly after the administration change earlier this year, both parties had already conceptually agreed to pursue a bilateral trade agreement.

It was conceptually agreed that we would proceed with a bilateral trade agreement that benefits both nations within a month of the new U.S. administration taking office. The process is no longer open-ended. "There was a lot of frustration last time because there was no closure," he said.

Indian trade negotiators are now operating with a greater sense of urgency and commitment, the minister continued. "This time, we have a clear goal and are prepared. We want to take advantage of the window of opportunity that we think is open. It's interesting to note that the common criticism that India slows down is no longer true here; rather, it's the opposite. On every front, we're actively communicating that urgency to the U.S. side," he stated.

Jaishankar's comments come after President Trump recently declared that reciprocal tariffs on imports from the majority of nations, including India-China being the lone exception-would be suspended for 90 days. The Indian government is eager to move trade talks along quickly in light of this development, a senior Indian official told Reuters.