India trade deal weeks away, not months, says US Secretary of State Rubio

The United States has now given clear signals on the long-stalled bilateral trade agreement with India. US President Donald Trump said at a special press conference on Tuesday that the agreement has reached its final stage and that the two countries are very close to this historic deal.

Journalists asked Trump whether the agreement with India would be reached soon, and he answered very positively. Trump said, "We are going to make a great deal with India. We are very close to this agreement. I would certainly like to say one thing: this deal will be completely different from any traditional agreement made before, and it will benefit both countries." His statement has signalled considerable stir in global markets and the business community.

US Secretary of State Marco Rubio is currently on an important visit to India. During the visit he has stressed strengthening the diplomatic and economic ties between the two countries. Trump's statement in Washington reinforces what Rubio has said about India. Rubio had also said in a recent interview that the India-US trade agreement is very close to being finalised.

Rubio said he is not directly part of the trade talks, as that work is done through US trade representatives (USTR). Even so, he is keeping a close watch on the whole matter and on every stage of the negotiations. He is confident that there will be no need to wait months for this agreement and that the final signatures could be put on it within the next few weeks.

Rubio also said that the relationship between India and the US is very sensitive and strategic. Therefore, before officially announcing such a big agreement, it is essential that the full picture is clear on every detail and condition, big or small. He said, "I have always believed that when two big powers make an agreement on the international stage, there must be 100% agreement on all aspects beforehand so that no differences remain. That is why the talks are proceeding in a very transparent manner."

In a post, Rubio said, "We are very, very close. We are as close as we can be to an agreement without it being signed. Only a few things remain to be settled, and I think it will happen soon."

Speaking on tariffs and trade rates between India and the US, Rubio said the overall outcome of the agreement would be very beneficial for India and would give Indian industry a big boost.

During his visit, Rubio praised India's vast size and cultural diversity. According to him, India's importance in international politics is not limited to the government in New Delhi; the country's various states and major economic cities are also important for this agreement.

Rubio said, "India is a huge and fast-growing economy. To understand the real strength of any big country, it will not do to confine diplomatic ties to the capital alone. Just as New York or Chicago has its own importance in the United States, it is necessary to visit southern India, the western coast and other big cities." He said that even if it is not possible for a Secretary of State to travel across all of India during a tenure, understanding the diversity of this great country is an important part of American foreign policy.

The proposed agreement is said to give a push to imports and exports between the two countries. It is estimated that with greater cooperation in technology, defence, energy, agriculture and manufacturing, Indian companies could get entry into the American market on easier terms. It is also estimated that, at a time when the world's dependence on China is declining, the agreement would play an important role in making India a major global manufacturing hub.