US Deputy Assistant Secretary in the Bureau of South and Central Asian Affairs Bethany Poulos Morrison has stated that Washington is "very, very close" to finalizing a historic trade agreement with India. Speaking at an event, she said, "Looking at trade, in February 2026, we announced the intention to finally conclude the historic trade deal. We are very, very close."
Proposed Agreement to Open India's Market
Morrison explained that the proposed agreement would open India's market of 1.4 billion people to American goods on "reciprocal and mutually beneficial" terms. "This is going to open India's market of 1.4 billion to America's goods on terms that are reciprocal and mutually beneficial. The administration is driving towards the goal of Mission 500, 500 billion in trade by 2030, with a real sense of urgency," she said, referring to the broader trade target between the two countries.
2025: A Historic Year for Bilateral Trade
Highlighting recent trade performance, Morrison noted that 2025 was a "historic year" for India-US trade. "We raised bilateral trade for goods to 149 billion. That's more than a 20 million increase from 2024. US exports to India alone rose by 9.8 per cent," she stated.
Investment Flows and SelectUSA
On investment flows, Morrison said Indian companies are showing strong interest in the United States. "We had SelectUSA, where we saw 20 billion dollars of new US investment into the United States from India. 1.1 billion in immediate investment," she added. She emphasized that both sides are moving with urgency towards expanding economic ties, underscoring the growing momentum in India-US trade and investment relations.
High-Level Meeting in New Delhi
Meanwhile, US Trade Representative Jamieson Greer and Union Minister of Commerce and Industry Piyush Goyal met in New Delhi on Tuesday to advance negotiations on the Interim Agreement, which was originally launched by President Trump and Prime Minister Modi. The official account of the US Embassy in India on X stated that it remains focused on securing a fair, reciprocal trade deal that opens markets for American exporters and delivers benefits to both nations.
According to the embassy, the high-level meeting at Vanijya Bhawan focused on moving forward with both the interim deal and a broader Bilateral Trade Agreement. Ambassador Greer was accompanied by the US Ambassador to India, Sergio Gor, and a senior American trade delegation for the high-stakes discussions.
The embassy's post read: "USTradeRep Jamieson Greer and Indian Minister of Commerce and Industry Piyush Goyal met in New Delhi today to advance negotiations on the Interim Agreement launched by President Trump and Prime Minister Modi. The United States remains focused on securing a fair, reciprocal trade deal that opens markets for American exporters and delivers benefits to both nations."
Earlier, Goyal welcomed the visiting American officials to the Department of Commerce, expressing optimism about the future of the trade relationship and also welcomed the presence of Gor and the adjoining US delegation for being a part of the ongoing discussions.
