US Commerce Secretary Howard Lutnick has expressed strong optimism about the imminent finalisation of a trade deal between the United States and India. Speaking at the US-India Strategic Partnership Forum, Lutnick indicated that both nations have found common ground that "really works for both countries," suggesting a breakthrough in the often complex and protracted trade negotiations between the two economies.

He stated, "You should expect a deal between the United States and India in the not-too-distant future," highlighting that the ongoing talks are progressing at an unusually rapid pace compared to typical international trade agreements.

Lutnick praised India for its swift engagement in the negotiations, noting that both sides are working to conclude the deal much faster than the traditional two-to-three-year timeline, aiming instead for completion within a month. This urgency is partly driven by the July 9 deadline set by President Donald Trump, who has threatened sweeping tariffs unless trade partners, including India, reach new agreements that address perceived imbalances and unfair practices.

Lutnick, a known advocate of tariffs, emphasized that the US seeks a reduction in India's high tariffs on American goods, calling for them to be brought down to "a level that is reasonable and appropriate" to foster a true partnership.

Despite his optimism, Lutnick did not shy away from raising longstanding US concerns about India's trade practices, particularly its "very protectionist" stance and continued defence purchases from Russia, which have historically strained bilateral relations.

However, he acknowledged recent shifts, with India increasing its procurement of American defence equipment, and noted that the Indian government is now addressing these issues more directly in response to US concerns.

Lutnick also discussed the broader strategic context, highlighting India's potential as a key partner for the US in its competition with China, especially in areas like artificial intelligence and technology. He mentioned US willingness to share advanced technology, such as high-end chips, under certain conditions, and expressed support for the development of large data centers in India.

Additionally, he floated the idea of a "Trump Gold Card" immigration program aimed at attracting global entrepreneurs, offering flexible tax and residency arrangements to facilitate closer economic ties between the two countries.

On the industrial front, Lutnick indicated that while high-end manufacturing is expected to return to the US, numerous industries could be relocated to India, further deepening economic integration. He underscored his personal affinity for India, describing himself as a "great fan" of the country and recounting his positive experiences with Indian friends and business associates.

The tone of the ongoing US-India trade talks is notably positive, with both sides demonstrating a willingness to compromise and move quickly toward a mutually beneficial agreement. If current momentum is maintained, a comprehensive trade deal could be finalized soon, marking a significant step forward in the strategic and economic partnership between the two nations.

Based On ANI Report