India-US Trade Agreement in Final Stages, Will Boost Exports and Jobs, Says Jaishankar

External Affairs Minister S. Jaishankar on Thursday said the proposed India–United States trade agreement is in its final stages and is expected to be completed very soon, describing it as a “historic” deal that will open a new phase in bilateral relations. The remarks came after Jaishankar held wide-ranging talks with US Secretary of State Marco Rubio in the US capital.

The meeting took place three days after US President Donald Trump announced a significant reduction in tariffs on Indian goods, following a phone conversation with Prime Minister Narendra Modi. Under the proposed agreement, US tariffs on Indian exports are set to come down to 18 percent from the earlier 50 percent, including the rollback of additional levies imposed over India’s purchase of Russian crude oil.

While confirming the tariff reduction, Jaishankar noted that detailed provisions of the trade agreement are still being finalized. He said the deal would expand cooperation across multiple sectors and strengthen overall engagement between the two countries. No additional specifics on market access or sectoral concessions have been officially disclosed so far.

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In a social media post, Jaishankar described his US visit as “productive” and “positive,” highlighting progress in critical minerals cooperation. He said engagement on strategic issues, defense, and energy is expected to intensify in the coming days, reflecting strong momentum in the relationship.

India–US ties had recently faced strain after Washington sharply raised tariffs on Indian goods and amid differences over energy imports, immigration policies, and geopolitical claims. President Trump has also stated that India agreed to reduce Russian oil purchases, a claim New Delhi has framed within its broader energy security strategy.

Responding to these developments, External Affairs Ministry spokesperson Randhir Jaiswal reiterated that ensuring energy security for India’s population remains the government’s top priority. He said India will continue to diversify energy sourcing based on market conditions and international dynamics, while noting that the finalized trade agreement is expected to boost exports, job creation, and growth in labor-intensive sectors.

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