'Never Done Till It's Done': Jaishankar on India-US Trade Deal
EAM S Jaishankar provides a cautious update on the India-US trade deal, noting that while it's in the final stretch, challenges remain.
External Affairs Minister S Jaishankar has provided a measured update on the highly anticipated India-US trade deal, reminding observers that despite significant progress, the agreement is not officially sealed yet. Speaking at the NDTV World Summit in New Delhi, the Minister emphasized that while the pact is in its concluding stretch, the final stages of such complex negotiations often present the toughest hurdles.
The Final Stretch and the 'Last Mile' Challenges
While there is a general consensus among top officials that the deal is nearing completion, Jaishankar maintained a cautious stance. He noted that both US Secretary of State Marco Rubio and India's Commerce Minister Piyush Goyal have indicated that the process has entered its final phases.
"Well, look, it's never done till it's done," Jaishankar remarked. "What you've heard... is that we are moving towards it. But, as I said, often the last mile or the penultimate miles do pose their challenges. I think the negotiating teams are working through them now."
When pressed on the specific nature of the remaining obstacles, the External Affairs Minister declined to elaborate, stating that those details are strictly for the negotiators to resolve.
High-Level Diplomacy in Mumbai
The comments follow a series of high-level engagements, including a meeting between Jaishankar and Secretary Marco Rubio in Mumbai. This visit marked Rubio's second trip to India in less than five months, occurring amidst a backdrop of some bilateral friction caused by stringent US immigration directives and unpredictable trade measures from Washington.
US President Donald Trump has also weighed in, describing the agreement as being "pretty close." For over a year, the two nations have been locked in negotiations to expand market access and settle long-standing disputes regarding:
- Import and export tariffs
- Agricultural commodities
- Industrial merchandise
- Regulatory barriers
Rubio’s Perspective and the Energy Angle
During his visit, Secretary Rubio expressed optimism, telling journalists that the deal is as close as possible without being formally executed. He suggested that only a small number of items remain to be wrapped up, hoping for a formal announcement and a potential signing by the leaders of both nations shortly.
Beyond trade, Rubio highlighted India's prowess in the energy sector, labeling the country a petroleum-refining "superpower." During his tour of the Reliance Industries-operated Jamnagar Refinery, he advocated for India to increase the domestic processing of Venezuelan crude.
Diversification in a Turbulent World
Beyond the trade deal, Minister Jaishankar used the summit to address the broader necessity of strategic diversification. He argued that in an era of global volatility, nations can no longer assume stability in energy, geopolitics, or trade.
He compared national strategy to portfolio management in volatile markets, suggesting that governments and businesses must avoid over-reliance on any single source to build resilience against sanctions, conflicts, and resource restrictions.
Broadening the Bilateral Scope
The discussions between Jaishankar and Rubio extended beyond commerce. According to the US State Department, the two leaders deliberated on:
- Regional Security: Developments in West Asia and other global matters.
- Energy Trade: The potential for increased US energy exports to diversify India's supply chains.
- Defense and Nuclear Cooperation: Progress in civil nuclear ties and the encouragement of further Indian procurement of US technologies and systems.
- People-to-People Ties: Strengthening the social and cultural bonds between the two democracies.
US Ambassador to India Sergio Gor described the interactions between Rubio and Jaishankar as productive, signaling a continued push toward strengthening the strategic partnership despite the remaining "last mile" challenges of the trade pact.