New Delhi: As India continues to seal trade agreements at a rapid pace — the latest being with the UK — its long-anticipated trade pact with the United States still remains pending, despite ongoing negotiations and past optimism from both sides.
According to a Newsweek article, a trade deal between India and the US has yet to materialize, even though former US President Donald Trump and Indian leaders previously expressed confidence in its possibility.
Sanjeev Sanyal, a member of Prime Minister Narendra Modi’s Economic Advisory Council, emphasized India’s desire to engage globally on equal footing. “We wish to engage with the world, including the West, on equal terms,” he stated. “We understand that Western countries have their interests, but we also have ours. So, we will speak up for our interests. This doesn’t mean we’re unwilling to engage or make reasonable trade-offs.”
Lisa Curtis, director at the Center for a New American Security, said the US should consider making concessions for India in light of their broader strategic partnership. “India’s successful trade deal with the UK shows it has global trading alternatives and is not desperate enough to make major compromises, like opening up its agricultural sector, just for a US deal,” she said.
Meanwhile, in a sign of improving regional ties, India has resumed issuing tourist visas to Chinese citizens after a five-year suspension. Chinese Foreign Minister Wang Yi, during a recent meeting with Indian External Affairs Minister S. Jaishankar, said both nations should “adhere to the direction of good neighbourliness and friendship.”
These developments, the report notes, highlight India’s growing position as a global “swing power” — a nation that is increasingly shaping geopolitical dynamics through strategic partnerships.
The landmark India-UK Free Trade Agreement (FTA) is being seen as both a geopolitical maneuver and a commercial milestone. The deal, which began negotiations in May 2022 and took three years to finalize, involved complex discussions to protect domestic interests such as farmers, small businesses, and service sectors in both countries.
“This agreement is about more than just trade,” said UK Conservative MP Bob Blackman to Newsweek. “It reflects a changing perception of power and partnership between the two nations.”
With inputs from IANS