Jaishankar urges caution as negotiators tackle last hurdles.
At the NDTV World Summit in New Delhi, External Affairs Minister S. Jaishankar signalled that the long‑anticipated India-US trade agreement is nearing completion, but warned against premature celebration. “It’s never done till it’s done,” he remarked, stressing that while progress has been substantial, the final stages of negotiation often present the toughest challenges.
Jaishankar’s comments came after recent discussions with US Secretary of State Marco Rubio, who visited India for the second time in five months. Rubio echoed similar optimism, describing the deal as “about as close as you can be without having an executed agreement.” He noted that only a handful of issues remain unresolved, raising hopes that leaders could sign the pact soon.
The proposed agreement seeks to expand market access and resolve persistent disputes over tariffs, agricultural exports, industrial goods, and regulatory barriers. Negotiations have stretched over a year, reflecting the complexity of balancing both countries’ economic priorities. For India, the deal promises greater access to US technology and energy markets, while Washington views it as a step toward diversifying India’s supply chains and strengthening defence cooperation.
Rubio’s visit also highlighted energy ties, with a stop at Reliance’s Jamnagar refinery. He described India as a “crude‑oil refining superpower” and suggested that New Delhi could play a larger role in processing Venezuelan crude. The US State Department reinforced this message, noting that expanded energy trade could transform India’s consumer market while reducing reliance on Russian imports.
Despite the upbeat tone, the backdrop remains complicated. Relations dipped last year after Washington imposed punitive tariffs on Indian goods and introduced stricter immigration measures, including higher H1B visa fees and restrictions on Green Card processing for major IT firms. These moves sparked concern in New Delhi, particularly given India’s reliance on its technology workforce in the United States.
Still, both sides appear intent on resetting ties. US Ambassador Sergio Gor described the Jaishankar–Rubio talks as “productive,” citing momentum in defence, energy, and emerging technologies. Jaishankar himself emphasized that while challenges remain, negotiators are actively working through them.
The minister’s cautionary note reflects the delicate nature of trade diplomacy: agreements often falter at the final stage. Yet with both governments signalling readiness, the India-US trade deal may soon mark a turning point in bilateral relations- if negotiators can clear the last hurdles.
