Commerce and Industry Minister Piyush Goyal will visit the United States from September 29 to October 5 and participate in the G20 Trade Ministers meeting, the Commerce Ministry said in an official statement on Monday.
Goyal's visit comes as India and the US continue negotiations on a bilateral trade deal, with a senior US State Department official saying the agreement is “90 per cent-plus” complete and that only a few final issues are being worked out.
“I would say stay tuned, which we keep saying, but we are - we are very close - it's like a 90-per-cent-plus there and just those final things being worked out, so I hope you're going to see something very soon on that,” the official said in response to a question from PTI on when the trade deal is expected to be signed.
Trade deal nears final stage
The official said the agreement could “unleash another level” of India-US bilateral relations, describing trade as a longstanding sticking point between the two countries.
“And that's really going to just unleash another level of US-India relations, something that hasn't really - we haven't been able to get there in decades when it comes to trade,” the official said.
“This has always been the most sticking point in the relationship. And so I think we're very close and it's going to be, I think, very, very exciting when we get there,” the official added.
The comments come ahead of Goyal's US visit, during which he is scheduled to participate in the G20 Trade Ministers meeting. His visit will also include engagements related to India's trade and economic interests in the US.
Also read: Trade deal between India and US done & dusted: Piyush Goyal
US-India ties, IMEC in focus
The US official also spoke about Secretary of State Marco Rubio's expected visit to India in October, saying it was part of the continuing engagement between the two countries.
“This is all part of the continuous growth and attention to the US-India partnership. There's a lot happening,” the official said.
Prime Minister Narendra Modi is expected to visit the US for the G20 Summit being hosted by the country in Florida in December. The official said there could be major announcements around the visit, adding, “There's just a lot happening in the relationship.”
The official also discussed the India-Middle East-Europe Economic Corridor (IMEC), calling it “absolutely a huge priority” for both the US and India, PTI reported.
The official said progress on the corridor had been affected by developments in the Middle East but that the project could move ahead once the region stabilises.
“I think on the India side and on the US side, we're ready to go. But because of some of the challenges we've had over the years, starting from the beginning of the administration - the president came in and we were still dealing with Israel/Gaza. That certainly paused things,” the official said.
“And then obviously Iran and Operation Midnight Hammer, that paused things. And so every - it's really being held in the Middle East. So I think when things can stabilise, you're really going to see IMEC take off,” the official added.
