New Delhi: Investor confidence returned to the Indian stock market around 1 PM on Monday after the new US Ambassador to India, Sergio Gore, spoke about the ongoing trade negotiations between India and the United States. The BSE Sensex, which had fallen over 700 points earlier in the day, rebounded by more than 30 points by 1:10 PM. Similarly, the Nifty 50 rose by over 35 points, reflecting renewed optimism among market participants.
Ambassador Gore Signals Continuation of Talks
After assuming his post in Delhi on Monday, Gore indicated that active trade discussions between India and the US are ongoing. He confirmed that the next round of negotiations is expected tomorrow, January 13, emphasizing that despite differences over tariffs and market access, both countries remain in continuous contact.
Invitation to PaxSilica Group
In a significant announcement, Gore stated that India would be invited next month to join the US-led PaxSilica Group as a full member. This move highlights India’s growing role in global technology and innovation. PaxSilica is a strategic initiative led by the US, aimed at creating a secure, prosperous, and innovation-driven supply chain encompassing critical minerals, energy inputs, advanced manufacturing, semiconductors, AI, and logistics.
Market Response and Investor Relief
Gore acknowledged that negotiating a trade deal with India is challenging but reiterated his commitment to completing the agreement. He said, “India is the largest country in the world, so finalizing this agreement is not easy, but we are determined to see it through.”
Following his remarks, the Indian stock market experienced a strong rally, providing relief to investors after a six-day market slump, during which nearly ₹17 lakh crore of market value was lost. The surge not only boosted market sentiment but also signaled positive momentum for the long-pending India-US trade deal.