1. Trade
Deal Progress: US Ambassador to India Sergio Gor said on 15 October 2026
that the major items in the India-US trade agreement had been completed, with
only smaller details and outstanding issues remaining.
2. Early
Conclusion Expected: Negotiations have been underway for around 18 months.
Gor expressed confidence that the agreement would be finalised soon.
3. Faster
Negotiations: Gor said a trade deal was announced within three weeks of his
arrival in India, contrasting this with the nearly 20 years taken to negotiate
the India-EU trade agreement.
4. US
Sanctions on Russian Oil and Gas: President Donald Trump is expected to
decide on the possible application of sanctions against countries buying
Russian oil and gas within approximately 10 days.
5. Senate
Approval: The relevant US legislation received 86 votes in the 100-member
Senate and authorises the President to impose sanctions relating to Russian oil
purchases, gas purchases and sanctions evasion.
6. India
Could Be Affected: Gor acknowledged that India falls within one of the
categories covered by the legislation, along with several other countries, but
said the measures were not intended to target any particular country.
7. Exemptions
for India: No country had yet been sanctioned under the legislation,
according to Gor. Any decision to grant India an exemption or relief would rest
with President Trump.
8. Objective
of Sanctions: The stated aim is to bring the Russia-Ukraine war to an end
rather than punish individual countries.
9. Investment
Opportunities: Gor highlighted defence manufacturing, IT, data centres and
semiconductor manufacturing as key areas of India-US cooperation.
10. US
Companies in India: Google, Microsoft, Adobe and Micron were cited as
examples of US companies expanding their operations in India, including in data
centres and chip manufacturing.
11. Employment
Generation: Gor said investments and business cooperation between the two
countries could generate employment in both India and the United States,
creating mutual economic benefits.
US
Ambassador to India Sergio Gor on Thursday (15.10.2026) said the two countries
had wrapped up the major items on their trade deal agenda, with negotiations
moving at an “incredible pace”. Drawing a comparison with the India-EU trade
pact, Gor highlighted the speed of the US talks, saying a deal was announced
within weeks of his arrival in India, while negotiations for the European Union
agreement took nearly two decades.
Commenting
on America’s 100% tariff for Russian gas and oil buyers, he said that US
President Donald Trump is expected to take a decision within the next 10 days.
Gor said that the legislation, which received 86 votes in the 100-member US
Senate, gives the President the authority to impose sanctions on countries
involved in buying Russian oil and gas or helping others evade sanctions.
However, he maintained that the measures were not designed to target India or
any other individual country.
“...We
have ongoing discussions on that as it passed with overwhelming bipartisan
support. That law got 86 votes out of 100 in our Senate... These sanctions
options that Congress passed, they are not targeted at any individual country.
It is three different buckets; one is oil, the second is gas, the third is
sanctions evasion.”
He
further added that these nations are identified based on numbers.
“It
just happens that India does fall in one of those buckets, along with a lot of
other countries. The goal is not to punish anyone. The goal is to try to bring
an end to this war. I do think the president will make a determination on that
over the next few days...”
The
law requires Trump to make a determination within 30 days of its passage. Gor
said that no country had yet been sanctioned under the legislation and that any
decision on exemptions or relief for India would be up to the President.
“He has to make a determination in the next I
believe 10 or so days,” Gor said.
India-US trade deal: ‘ big items are done’
Alongside
the discussions on sanctions, Gor expressed confidence that India and the US
would soon reach a trade agreement, saying the negotiations had advanced
considerably despite the challenges involved.
“The
big picture, the big framework, the big items are done,” he said, describing
the outstanding matters as smaller details and issues that could arise as talks
continued.
The
negotiations have now been under way for around a year and a half.
Gor
said that the pace of discussions compared favourably with other trade
agreements, while noting that the US had to revisit parts of an earlier
arrangement after the Supreme Court ruled the law underpinning it
unconstitutional.
He
pointed to the speed of engagement since his arrival in India as a reason for
optimism, contrasting the process with the time taken to negotiate the European
Union trade deal.
“...Within
three weeks of arriving here, we announced a trade deal... The European Union
trade deal took almost 20 years. So we're at an
incredible pace, and I am confident that we will get it done.”
US firms and their Indian
presence
Gor
said that American businesses had significant opportunities in India, thanks to
the country's market and government's approach to overseas investment. He
highlighted defence manufacturing, IT, data centres and chip manufacturing as
areas where companies from the two countries were already working together.
“...You
have an unmatched market here for our companies... For the private sector to be
able to come to India to compete, to have their foot in the door, you have a
very pragmatic prime minister here that welcomes outside investment. Pick any
sector, and we're working together at it.”
Naming
the sectors where India excels, the US ambassador said, “If you look at the
defence world, we have co-production happening here in India. If you look at
IT, it's unmatched. Google, Microsoft, Adobe, Micron; every one of them is
opening data centres and chip manufacturing here that work with our companies hand in hand in the United States. So when a job is created in India, a counter job is created
in the United States. It is an incredible win-win situation that I would say is
unmatched. We're actively engaged...”
According
to Gor, investment in India can generate employment opportunities on both
sides, with US companies working alongside their American counterparts even as
they expand operations in India. He added that the two countries were actively
engaged across sectors and reiterated his confidence in the trade negotiations.