Trade deal talks with US near finishing line: EAM Jaishankar

India and the United States have been engaged in a series of high-level trade negotiations since early 2023, aiming to deepen economic ties and address long-standing market barriers. The talks cover a wide range of topics, including agricultural market access, intellectual property rights, digital services and investment protection. Both governments view the agreement as a way to diversify supply chains and reduce reliance on other trading partners. For Indian businesses, a comprehensive deal promises greater access to the world’s largest consumer market and the potential to attract more foreign investment.

External Affairs Minister S. Jaishankar told reporters that the negotiations are now at a stage where the two sides are looking for a final landing point that can satisfy both domestic constituencies. He said the most sensitive issues include agricultural subsidies, data localisation requirements and the treatment of Indian pharmaceuticals in the US market. While progress has been made on reducing tariffs for certain goods, aligning regulatory standards remains a complex task. Jaishankar emphasized that a balanced outcome will require concessions from both sides and careful drafting of implementation mechanisms.

For Indian consumers and exporters, the final shape of the agreement could affect the price of everyday items such as fruits, dairy products and electronics, as well as open new avenues for technology firms. Policy makers in Delhi will need to assess how any concessions on data rules align with the country’s digital sovereignty goals. Observers note that a successful deal could also set a precedent for future trade arrangements with other major economies. The next few weeks are expected to involve intensive drafting and review before a formal signing ceremony.