‘Ninety-Nine Per Cent Done’: US Envoy Hints India–US Trade Deal Is Weeks Away

Ashik Bothra - Mumbai Bureau May 30, 2026 1,550 Views

India and the United States are on the brink of sealing a long-awaited interim trade agreement, with only “1%” of the deal left to negotiate, US Ambassador Sergio Gor has said. Speaking in New Delhi, he expressed confidence that the pact will be signed within weeks, calling the moment “historic” and saying Washington “could not be luckier” with India as a partner.

Trade Talks Enter The Endgame

Addressing an event on the US-India TRUST Initiative at IIT Delhi, Gor said India had just sent a team to Washington to close out the final issues in the text of the interim trade deal. A US delegation led by the chief trade negotiator will now visit New Delhi from June 1–4 to push the agreement over the finish line, after which both sides expect to move rapidly towards a formal signing.

What’s On The Table In This Trade Pact

According to Indian officials, the interim India–US trade agreement is designed as the first tranche of a broader bilateral trade pact, focusing on issues such as market access, tariff rationalisation, non-tariff measures, customs cooperation, trade facilitation and economic security alignment. Earlier this year, Commerce Minister Piyush Goyal and Commerce Secretary Rajesh Agrawal indicated that a joint statement would lay out the contours of the deal, followed by a legally binding agreement aimed at lowering reciprocal tariffs and giving exporters more predictability.

Why The Deal Matters For Both Economies

Gor framed the trade pact as a pillar of what he called the “defining partnership” of the 21st century, crediting the personal chemistry between President Donald Trump and Prime Minister Narendra Modi for unlocking momentum on tariffs and market access. For India, a smoother trade regime with the US could support manufacturing, services exports and supply-chain diversification, while Washington sees New Delhi as a critical, trusted partner in de-risking global trade away from overdependence on China.

Deal-Watch Highlights

Ambassador Sergio Gor says the India–US trade deal is “99% done” with only 1% left to finalise.
US chief negotiator to lead a delegation to New Delhi from June 1–4 to clinch remaining issues.
Interim pact is first tranche of a larger bilateral trade agreement framework agreed in February.
Focus areas include market access, tariff cuts, non-tariff barriers, customs and trade facilitation.
India expects the legal text of the first tranche to be signed and operationalised within weeks.