US close to historic trade deal with India
The United States and India are 'very, very close' to concluding a historic bilateral trade deal that will open the 1.4 billion-strong Indian market to American goods on reciprocal and mutually beneficial terms, a senior US official has said.
Addressing an event at the Capitol Hill organised by the Foundation for India and Indian Diaspora Studies (FIIDS) on Tuesday, US Deputy Assistant Secretary of State Bethany Poulos Morrison said Prime Minister Narendra Modi and US President Donald Trump were advancing a 'result-oriented' relationship.
'We're not measuring (the relationship) by meeting. We're measuring it by results,' she said, referring to the trade negotiations launched following the understanding reached between Trump and Modi earlier this year.
Trade deal negotiations progressing
'When we looked at trade in February 2026, we announced the intention to finally conclude the historic trade deal. We are very, very close,' Morrison said. She said the proposed trade deal will open up India's 1.4 billion-strong market to American goods on terms that are reciprocal and mutually beneficial.
'The administration is driving towards the goal of Mission 500 – the goal of achieving US$500 billion in trade by 2030 – with a real sense of urgency,' the official added.
Morrison's remarks came as US Trade Representative (USTR) Jamieson Greer is in India for discussions with Commerce and Industry Minister Piyush Goyal on the proposed trade agreement.
Growing economic engagement
Highlighting growing economic engagement, she said Indian companies were increasing investments in the US. At the recent SelectUSA Investment Summit, 'we saw USD 20 billion in new investment' commitments from India, including USD 1.1 billion in immediate investment, Morrison said, adding that it was the 'largest announcement in SelectUSA's history'.
The US was the second-largest trading partner of India in 2025-26. The proposed trade deal is expected to further boost bilateral trade and investment flows between the two countries.
