The deal aims to more than double bilateral trade to $500 billion by 2030, from the current $191 billion.Officials said India is awaiting a response from the US on the trade deal, and that another round of talks is not needed at this juncture.Barclays on Tuesday said India’s goods exports were resilient in the first half of FY26 despite headwinds from trade and tariff uncertainty. But “India is not going to compromise with the interests of farmers, dairy and workers... We are working on a fair, equitable and balanced trade deal.”At the White House, Trump also pointed to US treasury secretary Scott Bessent and repeated his claim on inching closer to a deal “that’s good for everybody.”Bessent was among the top US officials who had targeted India, accusing it of making “huge” profits on the sale of Russian crude during the ongoing war in Ukraine.Purchase of Russian oil accounted for 33.9% of India's total crude imports by volume during April-August, a shade lower than 35.8% last fiscal. “I want to congratulate him.”Terming India “one of the world’s oldest civilisations” and “the largest country in the world,” Trump said he was confident Gor would strengthen the partnership between the two largest democracies.“I’m trusting Sergio to help strengthen our country’s one of the most important international relationships, and that is the strategic partnership with the Republic of India,” said the US President.
Author: Dipanjan Roy Chaudhury and Kirtika Suneja
Published at: 2025-11-12 00:00:00
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