Key Points

Lutnick said, "I think to be in a very, very good place, and you should expect a deal between the United States and India in the not-too-distant future because I think we found a place that really works for both countries."

When asked if he was hopeful about the outcome, Lutnick said he was "very optimistic," and added, "It could be sort of the way I come across."

Lutnick also praised India for moving swiftly in trade talks, noting that both sides were working to finalise a deal far quicker than is typical, a deal that benefits both countries. "Earlier countries get a better deal. That's the way it is. I think India is trying hard to be one of the earlier countries which I appreciate. But these kind of deals used to take two or three years and we're trying to get them done in a month, which is just not the ordinary DNA of trading relationships between countries," he said.

The Secretary's remarks come ahead of a July 9 deadline he referenced for ongoing trade discussions. Lutnick, who has decades of business experience in India, said the partnership between New Delhi and Washington has strong potential, especially given the "rare connection" between US President Donald Trump and Indian Prime Minister Narendra Modi.

However, Lutnick did not shy away from raising concerns about India's current trade practices. He criticised what he described as New Delhi's " very protectionist" policies. "You ask them why? The answer is, I don't know why. It just is," he said, referring to high tariffs on American goods. "Bring them down to a level that is reasonable and appropriate so we can be treated as partners with each other."

He also pointed to India's defence ties with Russia as a matter of concern. "You generally buy military gear from Russia, some way that kind of get up, you know, under the skin of America," Lutnick mentioned, while also acknowledging India's recent shift towards purchasing American defence equipment.

On India's role in BRICS, Lutnick said, "That's not really the way to make friends and influence people in America."

Lutnick highlighted India's potential as a hub in America's competition with China in artificial intelligence, promising a more open approach to tech-sharing under the Trump administration. "We are willing to sell our best chips, but they have to be done in certain ways," he said, adding that the US plans to support the creation of "giant data centres" in India.

He also floated a proposal for a new immigration programme called the "Trump Gold Card," aimed at attracting global entrepreneurs. "A wonderful opportunity for people to be part of two economies," Lutnick said, adding that it would offer flexibility on tax arrangements and residency status.

On the trade front, Lutnick said certain industries would be relocated to India while high-end manufacturing returns to the US. "There are enormous numbers of industries that we'd really like to go to India," he added.

Interestingly, according to the US Secretary of Commerce, he is a "great fan of India" and "even the people in the government know that that's true." He added that "one" of his "best friends" happens to be "Indian", and they used to have "fun" together, going to house parties and even playing cricket.

- ANI