India and US Close to Finalizing Trade Deal as Talks Enter Final Stage

External Affairs Minister S Jaishankar announced on Saturday that India and the United States have resolved most issues related to a proposed trade deal, including tariff lines. Speaking at the HT Leadership Summit, Jaishankar stated that negotiations are approaching the final stretch and could be sealed soon. He noted that many remaining issues are changing on the American side rather than in India. India aims for a balanced trade deal that provides a comparative advantage over similar economies, keeping in mind that the US serves as India's biggest market and the world's largest economy.

India-China Border

Jaishankar stated that India's border with China has become more alive, requiring a much greater and sustained commitment of Indian troops. He highlighted major upgrades in border infrastructure, including new tunnels, bridges, and airfields built over the past decade. According to Jaishankar, border infrastructure was neglected until about ten years ago, but recent policy pushes, resources, and attention have greatly improved India's capability to deploy troops in that sector.

Global Politics and Upcoming Meetings

Commenting on US mid-term polls for the first time, Jaishankar noted a bipartisan political consensus in the US on defence, security, and technology ties with India. He also mentioned that US-China competition drives global volatility alongside other factors. These remarks precede high-level diplomatic meetings, with Prime Minister Narendra Modi expected to meet US President Donald Trump on the sidelines of the ASEAN and East Asia summits in Manila on November 16-17, followed by a G20 leaders summit visit to the US on December 14-15.

Context

Trade deals between major global economies require painstaking tariff-line negotiations because people's jobs and livelihoods are directly at stake. Meanwhile, increased border infrastructure investment allows nations to sustain larger troop deployments in difficult terrain. High-level multilateral summits frequently serve as crucial venues for leaders of major economies to finalize bilateral agreements and discuss regional security.