India-US trade agreement "99% there", last 1% being finalized: US Ambassador Sergio Gor
Mumbai, June 3
Asserting that India and the United States are on the cusp of a landmark trade agreement, US Ambassador to India Sergio Gor revealed that negotiations for the trade agreement are "99% there," with both nations actively hammering out the final technicalities.
Speaking to the media on the sidelines of CITI's 2026 India Conference in Mumbai, Ambassador Gor expressed immense optimism about the imminent finalization of the deal, contrasting the swift 1.5-year progress of the India-US talks with years it took for India to finalize its trade pact with the European Union.
"We are 99% there, the last 1% we are working on. We are very optimistic that this will get done. It will be a win-win situation for both the US and India," he said.
Addressing questions regarding the remaining sticking points, Gor clarified that the unresolved one per cent consists primarily of technical legal phrasing and implementation timelines.
"In these negotiations, each side has to give something, because that's what identifies the win-win situations," Gor stated, praising India's "incredible negotiators" for holding the line.
He also spoke of the commitments under the Interim Trade Agreement.
Gor is scheduled to travel back to New Delhi to meet with Union Commerce Minister Piyush Goyal, alongside a large visiting US trade delegation currently engaging with India's Ministry of Commerce and the Ministry of External Affairs (MEA).
Dismissing occasional negative rhetoric, Gor emphasized the robust personal rapport between US President Donald Trump and Indian Prime Minister Narendra Modi, noting that their strong and growing relationship is the core reason the trade deal has advanced so rapidly.
Gor faced questions regarding the ongoing US-Iran conflict and escalating global energy costs.
He fiercely defended the US position, shifting the blame entirely onto Tehran's "very reckless regime" for "attacking" neighbouring Gulf states and holding global trade hostage through its stance in the Strait of Hormuz.
Reaffirming Washington's absolute opposition to Iran's nuclear ambitions, Gor defined it as a non-negotiable red line for the Trump administration.
"Imagine if those ICBMs now were nuclear armed, what the devastation on that region would be. And that has been the red line for the United States--that Iran will not have a nuclear weapon. We cannot have another terrorist state in the Middle East that will shoot down any of its neighbours now with a nuclear weapon."
He added that Iranian missiles targeting commercial vessels have tragically resulted in the deaths of Indian nationals, a situation the US President will not allow to continue.
— ANI
Reader Comments
Good to hear Ambassador Gor acknowledge our negotiators as "incredible" 😊. India has learned from past deals - we won't be pushed around. But the Iran situation is concerning - those Strait of Hormuz tensions directly impact our oil imports. Modi ji should ensure energy security is part of this deal too.
"Win-win" - let's see if that's actually true. The US usually gets the better end in trade deals. Remember the pharmaceutical IP issues? I'm skeptical until I see the exact clauses. And the Iran comments feel like unnecessary saber-rattling at an Indian conference. We can have our own foreign policy.
Exciting times for India-US relations! The speed of this deal (1.5 years vs EU's years-long saga) shows both sides are serious. But the Iran talk... Ambassador Gor needs to remember he's in Mumbai, not Washington. Indian companies have investments in Chabahar port too. Let's keep trade deals separate from geopolitics. 🤝
Finally some positive news on trade! Our IT sector and textile exporters will benefit enormously. But I worry about dairy - our small farmers can't compete with US subsidies. Piyush Goyal ji needs to ensure safeguards. And yes, the Iran comments were odd - why bring that up at a trade conference? 🤔
As an American living in India, I can see both sides wanting this. The US needs Indian manufacturing diversity, India needs US tech investment. But the 1% remaining is always the tricky part - legal phrasing can make or break implementation. Hope they sort it out soon for both our countries' sake! 🇺🇸🤝🇮🇳