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India and the United States have reached a broad understanding on a proposed trade agreement, External Affairs Minister S. Jaishankar said in New York.
Jaishankar described the agreement as ‘very, very far advanced’. He said its completion could place wider India-US relations on a better course after a difficult period.
“We have reached a situation where there is more or less an understanding on the trade agreement,” he said during a question-and-answer session.
The minister said the key question was ‘what has changed on the American side’. He cited changes in the basis of US tariffs and an ongoing Section 301 process.
India must assess when to conclude the long-negotiated agreement while that process continues, he said.
Jaishankar said expectations of a quick deal had met India’s economic complexity.
The country has many small farmers and manufacturers. Its production structure differs sharply from that of the United States.
“A trade negotiation required a certain amount of, I think, patience and detailing to see it through,” he said. The prolonged talks created ‘bumps’ in bilateral ties last year.
Jaishankar identified terrorism and people’s movement as two other factors shaping India’s ties with Washington.
He said terrorism remains a major Indian concern after years of attacks from a neighbouring country.
“If one of my primary concerns is not fully appreciated by my partner, then clearly there is an impact of that on the relationship,” he said.
On mobility, Jaishankar said economic benefits now face political concerns in parts of the US. Public opinion increasingly shapes diplomacy, he added.
“We would certainly hope for and expect the relationship to move on an upward trajectory,” he said.
India and the US have expanded cooperation in trade, technology, defence and education over two decades. Both nations are Quad members with Australia and Japan.
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