Key Points

He made the remarks while speaking to ANI.

While answering a question on how the American companies are viewing the scenario, Keshap said, "I represent 200 of the largest companies in America and India. Let me tell you that they are all nervous. Indian companies in America are feeling very exposed and vulnerable right now. American companies in India are uncertain. Business doesn't like uncertainty; it likes predictability. If the US and India can't agree on a deal that frames the economic relationship and sends a positive psychological message to investors, it is going to very hard to see growth".

Highlighting the commitment of both governments to enhance bilateral trade, he said, "Both the President and the PM advocated for getting a 500 billion dollar target in annual trade. We can't do it if we don't get this deal done because the deal is the foundation of what is going to be further deals. So, I think, speaking for the business community, everybody wants to see this drama come to an agreed deal."

Answering a query on the latest slew of remarks which emerged from the US in regards to India, Keshap said, "I think people have to understand that Secretary Bessent and the President were talking about their concerns about India's purchases of Russian oil even before he began his second tenure. So, clearly, some of that is being reflected in all of these statements...So, President's frustration has clearly risen and it is starting to impact other countries that he feels directly or indirectly are helping sustain President Putin's very unhelpful stance."

Bringing to the forefront the wide-ranging cooperation between India and the US, Keshap highlighted that the two countries have to act collectively and see where the interests are best served.

He said, "I think what you are seeing in here is genuine frustration coupled with impatience...The US and India are the two largest and greatest democracies on earth. We have a people-to-people, business-to-business, scientific, academic, outer space, law enforcement, counter-terrorism, relationship that goes to very great extents and reflects the great relationship of our two nations well beyond Washington and Delhi...So, I think we have to take a deep breath collectively, not overreact. Great nations think things through and they act based on interest. We have to see where the interest is best served. In my humble and respectful view, that is in coolly, calmly and collectively forging a deal that is good for America, good for India and good for our businesses."

United States Treasury Secretary Scott Bessent has blamed India for "slow-rolling things" in the talks for a Free Trade Agreement and said "the whole trade team has been frustrated with them".

The comments, made in an interview with CNBC, came a day after the US President announced a 25 per cent tariff on India and an unspecified penalty for purchasing Russian oil. The new US tariffs on Indian goods are set to take effect from August 1.

After announcing a 25 per cent tariff and penalty for purchasing Russian oil, US President Donald Trump said on Wednesday (local time) that Washington is continuing trade negotiations with New Delhi. He emphasised that India is one of the countries imposing high tariffs on the United States.

India has said that it is examining the impact of Trump's tariff announcement and will take necessary steps to safeguard its national interest.

Commerce and Industry Minister told the Parliament on Thursday that the government is examining the impact of the recent events and will take all necessary steps to safeguard the national interest.

- ANI