India-US Trade Talks Resume Today with $500 Billion Target

New Delhi: Positive developments are underway on the India-US trade front as both countries resume discussions starting today. Sergio Gore, the newly appointed US Ambassador to India, confirmed on Monday that negotiations over the proposed trade agreement will restart, sparking optimism in Indian equity markets. The Sensex recovered from a 700-point intraday drop to close 300 points higher, signaling investor confidence in the potential deal.

A Strategic Partnership Beyond Trade
Upon arriving in New Delhi, Ambassador Gore adopted a constructive tone, describing India-US relations as one of the most important global partnerships of this century. While the Trump administration has expressed concerns over delays in finalizing the agreement, Gore emphasized that the bilateral relationship goes beyond tariffs and market access issues. “True friends may disagree, but they ultimately resolve their differences. The United States and India are bound not only by shared interests but by a relationship established at the highest levels,” he said.

Trump-Modi Connection Highlighted
Gore highlighted the personal rapport between former President Donald Trump and Prime Minister Narendra Modi, asserting that his global travels with Trump provided him firsthand insight into the strength of the partnership. On the trade negotiations, he added, “Many of you have asked me for updates on the trade talks. Both sides are actively engaging. The next round of discussions will take place tomorrow (Tuesday). India is the world’s largest democracy, so finalizing this deal is no simple task.”

Long-Standing Negotiations
India and the US have been negotiating a trade agreement for several years, focusing on two levels: a structural deal addressing high US tariffs and a broader bilateral trade pact. Since August 27, the US has imposed tariffs of up to 50% on Indian imports, including an additional 25% tariff on Russian oil purchased by India.

Ambitious $500 Billion Goal
The proposed agreement aims to increase bilateral trade to $500 billion by 2030. Despite ongoing contentious issues, Ambassador Gore stressed that the partnership extends beyond tariffs. He said trade is important but highlighted continued collaboration in security, counterterrorism, energy, technology, education, and health as equally vital areas of cooperation.

Calling India an “indispensable partner” in America’s global strategy, Gore added, “No partner is more essential than India. In the coming months and years, my goal is to advance a very ambitious agenda, approaching it as true strategic partners, where each side brings its strengths, respect, and leadership to the table.”

With talks set to resume today, markets and policymakers alike will be watching closely for progress toward this high-stakes trade deal.