US looking forward to trade pact with India: Gor

The US and India are close to finalising a bilateral trade agreement that will expand market access, reduce barriers, and create greater certainty for businesses on both sides.

The US is looking forward to sealing the proposed bilateral trade agreement with India that will facilitate expanding market access, reduce barriers, and create greater certainty for businesses, US Ambassador Sergio Gor said on Thursday.

The envoy said the trade deal will strengthen supply chains and drive sustained inclusive growth besides encouraging new investments.

Gor was speaking at an event hosted by American Chamber of Commerce.

''We look forward to completing the details of a new bilateral trade agreement that will expand market access, reduce barriers, and create greater certainty for businesses on both sides,'' he said.

The ambassador said President Donald Trump's goal is to facilitate bilateral trade in a way that creates lucrative opportunities for American businesses and workers.

Gor, referring to finalisation of India's free trade pact with the European Union in January, suggested that it took almost 19 years.

However, he said the India-US trade deal could be sealed within one-and-half years of starting the negotiations.

''We are confident that in the coming weeks and months, this (India-US) trade deal could be finalised,'' he said.

The ambassador said India's expanding manufacturing ecosystem, digital infrastructure, innovation capabilities, and skilled talent pool complement the American leadership in technology, investment, advanced research, and entrepreneurship.

Gor said the shared ambition of the US and India to achieve USD 500 billion in bilateral trade by 2030 reflects the confidence and connect between the two economies.

''We stand at a remarkable moment. Over the last two decades, bilateral trade has grown from about USD 20 billion to over USD 220 billion in goods and services,” an eleven-‘fold increase that reflects deep trust and strengthened economic integration,'' he said.