US-India Critical Minerals Deal Nears Finalisation, Says Ambassador Gor

Speaking at the India Today conclave, Gor said, "I'm pleased to say that we are moving very close to finalising critical minerals agreements to help secure the supply chains needed for advanced manufacturing, energy systems and emerging technologies. Stay tuned, and in the next few months, we expect a big announcement."

He further emphasised that the Washington-New Delhi relationship can reach "historic heights" as he highlighted the recent breakthroughs, such as the US-India interim trade agreement, to elevate the partnership.

Sergio Gor said that in a few months, both countries will have delivered actual results, reflecting governments political willingness to translate opportunity into direct results.

"We are seeing something different. Instead of breakdown, we are seeing breakthroughs. We have already seen a remarkable series of breakthroughs that demonstrate the strength and momentum of the US-India partnership," he said.

"The relationship has the potential to reach historic heights and deliver results on a scale we have never seen before," he added.

Gor further highlighted the recent breakthroughs, "First, a breakthrough in trade. Second, a breakthrough in trust and technology and third, a breakthrough in strategic coordination. Each reflects where the US-India partnership is headed."

Speaking on the India-US interim trade deal, Gor said, "The scale of our economy and the talent of our people and the entrepreneurial energy in both societies make the possibilities very clear. What was needed was the momentum and political will to translate opportunity into direct results. Today, we are beginning to unlock the potential."

"This partnership is not about tariffs and market access, it is also about securing the resources and supply chains that will define the global economy of the future," he added.

India and the United States had on February 7 announced that they have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement).

The framework reaffirmed the countries' commitment to the broader US-India Bilateral Trade Agreement (BTA) negotiations, which will include additional market access commitments and support more resilient supply chains.

Key terms of the Interim Agreement included India eliminating or reducing tariffs on all US industrial goods and a wide range of US food and agricultural products, including dried distillers' grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products.

It said the United States will apply a reciprocal tariff rate of 18 per cent under Executive Order 14257 of April 2, 2025 as amended, on originating goods of India, including textile and apparel, leather and footwear, plastic and rubber, organic chemicals, home decor, artisanal products, and certain machinery.

- ANI