External Affairs Minister S Jaishankar has provided an update on the ongoing India-US trade negotiations during his recent visit to the United States.

Speaking on the sidelines of a Critical Minerals ministerial meeting hosted by the US State Department in Washington DC, Jaishankar confirmed that detailed work on the bilateral trade deal is actively underway.

The minister clarified that the negotiations are being led by Commerce and Industry Minister Piyush Goyal, who is in direct engagement with the US Trade Representative. Jaishankar noted that the process follows a conversation between Prime Minister Narendra Modi and US President Donald Trump, from which initial announcements emerged.

Both sides anticipate issuing a joint statement soon, outlining the exact terms of the agreement. Goyal, addressing Parliament earlier, revealed that negotiating teams have finalised several key areas after nearly a year of intensive discussions across multiple rounds.

This framework marks a landmark step in bolstering bilateral ties and aligns with India's vision of becoming a developed nation by 2047. Goyal emphasised that the deal unlocks significant export potential while safeguarding sensitive sectors, particularly India's agriculture and dairy industries.

The US has secured protections for its own priority areas, ensuring a balanced outcome. A notable feature is the 18 per cent tariff rate announced by President Trump, which Goyal described as lower than those imposed on several competing nations, thereby boosting India's competitiveness.

During the same US visit, Jaishankar met US Secretary of State Marco Rubio. He also participated in the Critical Minerals meeting, highlighting its importance amid global supply chain vulnerabilities.

Jaishankar described the discussions as productive and outcome-oriented. The US launched a new initiative called FORGE, building on the existing Mineral Security Partnership, with India's support.

In his address, Jaishankar warned of the risks posed by excessive concentration in critical mineral supply chains, advocating for structured international cooperation to de-risk them. This reflects India's deepening involvement in US-led frameworks for strategic minerals.

These developments underscore the strengthening strategic partnership between the world's two largest democracies, spanning trade, technology, and resource security at a time of geopolitical flux.

Based On ANI Report