India and the US are likely to eventually conclude an interim trade agreement, but a near-term breakthrough looks unlikely as the two sides remain divided over market access, agriculture, Russian oil purchases and Washington’s concerns over the bilateral trade deficit, a unit of Fitch, BMI said.
The assessment comes after US Trade Representative Jamieson Greer said on October 1 that negotiators had identified the full set of sticking points, while Finance Minister Nirmala Sitharaman said on October 5 that the talks had reached a “plateau” beyond which further concessions would be difficult.
