US Ambassador Sergio Gor Says India-US Trade Deal Is '99% Done' And Will Be Signed Within Weeks 'Could Not Be Luckier'

(MENAFN- Live Mint) The United States and India are within a single percentage point of sealing an interim trade agreement, US Ambassador Sergio Gor declared on Friday, placing the two nations at the threshold of a deal that Washington says will cement the most consequential bilateral relationship of the 21st century.

India-US Trade Deal: Just One Per Cent Left to Finalise

Speaking at the Indian Institute of Technology in New Delhi at an event focused on the US-India TRUST Initiative, Transforming the Relationship Utilising Strategic Technologies, Gor confirmed that an Indian delegation had travelled to Washington the previous week to resolve the remaining outstanding points, and that an American team would arrive in New Delhi shortly to conclude discussions.

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"Our current interim trade agreement is on the table for us to finalise and that will unlock prosperity for both of our countries. Just last week, India had sent a team to Washington DC to finalise the last one per cent of that trade deal," he said.

"Next week, we will welcome a US delegation here to continue those talks. We fully expect that the trade deal will be signed over the next few weeks and months," he added.

The foundation for the interim arrangement was laid in February, when New Delhi and Washington released a joint statement agreeing on a framework for reciprocal and mutually beneficial trade.

Bilateral Trade Has Grown Tenfold Over Two Decades

Gor placed the imminent agreement within a broader arc of economic expansion, noting that trade in goods and services between the two countries had climbed from 20 billion US dollars to more than 220 billion dollars over the past two decades.

"Today, the US is one of India's largest trading partner, and India is among the top trading partners of the US. Importantly, this growth is increasingly driven by innovation, investment and high value sectors, from digital trade and advanced manufacturing to energy and emerging technologies," he said.

He also framed the trade push as central to the Trump administration's domestic economic agenda.

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"Our investment in trade expansion offers transformative potential. President Trump's goal is to facilitate bilateral trade in a way that creates unprecedented opportunities for American businesses and workers," he said.

"India's growing economy and significant infrastructure needs align well with American expertise in energy, aviation, R&D, advanced manufacturing and digital infrastructure," he added.

TRUST Initiative: Technology as the Cornerstone of the India-US Alliance

The TRUST framework was launched when President Donald Trump met Prime Minister Narendra Modi at the outset of his second term, and is designed to anchor bilateral engagement in the strategic technologies reshaping geopolitics. The Trump administration has formally identified India as one of several "new centres of power" in a reorganised global order, and the initiative reflects that assessment.

Gor was unambiguous about the weight both governments place on the partnership.

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"We're gathered at a defining moment, one where critical and emerging technologies are fundamentally reshaping the global balance of power. And I believe no partnership is better positioned to lead that charge than ours," he said.

"At the same time of this immense transformation, I want us to be ambitious and shape the US-India relationship into the defining strategic partnership of the 21st century -- one that delivers tangible benefits for both of our nations and our people," he said.

Critical Minerals Framework: A Strategic Counter to China's Rare Earth Controls

Among the most significant developments announced around the event was the formalisation of a bilateral cooperation framework on critical minerals, a sector that has gained heightened strategic urgency following China's tightening of export controls on rare earth elements. Gor described the minerals partnership as central to building defence and energy supply chains that are resilient and secure.

"The message that we want to send to everybody here and across the country is that the US is paying attention. The US is involved, and the US comes to India with an open hand," he said.

India-US Artificial Intelligence Partnership and Pax Silica Framework

On artificial intelligence, Gor pointed to a bilateral joint statement as evidence of convergent regulatory and innovation strategies, with both governments working to foster private-sector-led technological development.

"Our joint statement on the US-India AI partnership reaffirmed our shared vision for our innovation ecosystems," he said.

"We agreed to adapt regulatory regimes that advance technological innovation and promote investment, deepen cooperation under the Pax Silica framework to support the supply chains of tomorrow and foster an environment where the AI revolution is driven by the creative power of the private sector," he added.

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Gor described India as increasingly integral to the global technology ecosystem.

"India is joining a network of trusted ecosystems and resilient supply chains that will define the future -- from artificial intelligence to semiconductors and quantum computing," he said.

India Supplies 40 Per Cent of US Generic Medicines

One of the more striking disclosures in the address concerned the pharmaceutical sector. Gor revealed that the United States sources close to 40 per cent of its generic medicines from India, a figure that underscores both the depth of existing economic interdependence and the strategic trust underpinning the relationship.

"On pharmaceuticals, we import close to 40 per cent of our generics from India. There is a reason the United States does that: it is because we trust India. These are critical life-saving ingredients that are needed in the United States," he said.

Washington Re-Calibrating Export Controls for the New Geopolitical Landscape

Gor also addressed the United States' ongoing review of its export control policies, noting that Washington was actively recalibrating its approach to balance legitimate national security interests against the imperative to enable commerce and innovation with trusted partners such as India.

'We Could Not Be Luckier to Have a Partner Like India'

US Under Secretary of State for Public Diplomacy Sarah Rogers, who also addressed the gathering at IIT Delhi, offered an unambiguous endorsement of the bilateral relationship.

"I don't think we could be luckier than we are to have a partner like India in a critical region," she said.

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Gor called on both nations to sustain and scale the momentum of recent years.

"I trust that you will all agree with me that there are no two nations better positioned than ours to combine strengths and place our people at the centre of technological transformation," he said.

"Let us work together to make the US-India partnership the defining relationship of the 21st century," he added.

Secretary of State Marco Rubio's recent four-day visit to India, which Gor described as "very substantive", has provided additional diplomatic impetus to a relationship that both capitals are now positioning as a pillar of their respective foreign and economic policies.

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