Piyush Goyal credits US envoy Sergio Gor for India-US trade deal

Union Commerce Minister Piyush Goyal lauded US Ambassador Sergio Gor for his pivotal role in concluding the India-US interim trade agreement. Goyal credited Gor's personal leadership for the breakthrough in strengthening bilateral economic ties.

Goyal Credits US Envoy for Trade Deal Success

Union Commerce Minister Piyush Goyal on Monday credited US Ambassador to India Sergio Gor for the successful conclusion of the framework for the India-US interim trade agreement, praising his "support and personal leadership" in strengthening bilateral economic ties between the two countries. Speaking at a reception hosted at Ambassador Gor's residence in the national capital, the Commerce Minister said, "I must place on record that the trade deal would not have been possible but for his support and his personal leadership in the entire engagement. Thank you very much, Sergio, for all that you've done to further strengthen this bond between the US and India."

Goyal also wished the US Ambassador a pleasant tenure in India, noting that the country's warmth and hospitality would make his work "great fun". "I wish you well in your assignment. I wish you have a wonderful stay in India. You will meet all the wonderful people across the country who would love to know you and work with the United States of America. Without a doubt, I can tell you that this country, with all its warm hospitality, will be great fun to work in and to travel around," he stated.

New Ambassador Formally Assumes Role

Gor presented his credentials to President Droupadi Murmu during an official ceremony at Rashtrapati Bhavan on January 14, formally becoming the 27th United States Ambassador to India.

Earlier, during an interview with ANI, the Union Commerce Minister credited the Gor for playing a "very important role" in concluding the framework of the India-US interim trade agreement. He said he had no hesitation in recognising Gor's role in finalising and announcing the agreement, calling him a "dear friend" and a "well-wisher" of the India-US relationship. "Certainly, I have no hesitation in acknowledging that Ambassador Sergio Gor, who is a dear friend, has been a well-wisher of this relationship. He did play a very important role in concluding the conversation towards finalisation and announcement. And I would like to recognise and respect his contribution," Goyal said.

Details of the Interim Agreement Framework

The United States and India announced a framework for an Interim Agreement on reciprocal, mutually beneficial trade, reaffirming their commitment to a broader Bilateral Trade Agreement (BTA) launched by President Donald Trump and Prime Minister Narendra Modi on February 13, 2025.

Reciprocal Tariff Adjustments

As part of the framework, India has agreed to eliminate or reduce tariffs on all US industrial goods and a wide range of US agricultural and food products, including dried distillers' grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products. On the other hand, the United States will impose a reciprocal tariff of 18 per cent on goods originating in India, including textiles and apparel, leather and footwear, plastic and rubber products, organic chemicals, home decor, artisanal goods and certain machinery.

Future Commitments

Subject to the successful conclusion of the Interim Agreement, the US has said it will later remove reciprocal tariffs on select items, including generic pharmaceuticals, gems and diamonds, and aircraft parts. India also intends to purchase USD 500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next five years. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)