India and the United States may finally be nearing a long-awaited trade agreement, Foreign Minister S Jaishankar indicated at the HT Leadership Summit, while stressing that New Delhi will not compromise on core economic interests. Speaking to NDTV’s Rahul Kanwal, Jaishankar said both sides believe there is a “landing point” where their trade priorities can converge, but the negotiations remain tough and sensitive.
He highlighted that trade continues to be the most complex element in the India-US relationship, yet communication between the two governments is strong. According to him, several rounds of discussions have already taken place, and the possibility of a deal materialising soon remains open though he refused to commit to any timeline. In diplomacy, he noted, “things can turn around in one weekend,” emphasising the unpredictable nature of negotiations.
One of the biggest challenges in the talks stems from the United States pushing India to open its markets to a wide range of American agricultural products, including GM corn and soybeans. India has firmly resisted such access, citing health and environmental concerns, as well as the potential impact on millions of small dairy and poultry farmers. Jaishankar reminded that protecting farmers, workers, and the middle class is central to India’s trade strategy, and New Delhi must remain “extremely judicious” in its decisions.
President Donald Trump’s distinct approach to trade has also shaped the discussions. The US has long expressed concerns over its trade deficit with India, resulting in months of intense back-and-forth over market access. Despite these challenges, Jaishankar voiced optimism that a fair and balanced agreement is achievable if both sides continue constructive engagement.
He also underlined that India will always act in its national interest and that no external country has any “veto” over New Delhi’s bilateral relationships a point he has reiterated in the context of India’s ties with Russia as well.
With negotiations progressing and both nations keen to strengthen economic cooperation, all eyes are now on whether the long-pending trade deal will finally cross the finish line.
