00:00The India-U.S. trade deal heading to a conclusion.
00:03Ex-Royal Affairs Minister S.J. Shankar says that India-U.S. trade deal at landing point
00:07talks on how we fare compared to others.
00:11And remember, Finance Minister Nirvila Sitaraman had earlier said that the deal talks have hit a plateau,
00:18whereas S.J. Shankar has hinted that India-U.S. may seal the trade deal very soon.
00:23He says that ironing out a few issues before the final nod.
00:27So both the parties, both the countries are now ironing out the few issues that are remaining before the final
00:34nod
00:35and that the trade deal could be finalized very soon.
00:39This is what the External Affairs Minister S.J. Shankar has said.
00:42U.S. Secretary Marco Rubio is set to visit Delhi from October 17 to October 20.
00:48And let's also take a look at what's on the agenda.
00:51So strategic bilateral talks with Rubio will be taking place.
00:54And the U.S. Secretary Marco Rubio, this is the second visit to India in five months, in 55 months.
01:04And Rubio will be visiting Mumbai and Jamnagar for the energy talks.
01:11I think people, you know, the trade ministers, U.S.T. are there and our commerce and industry minister,
01:17they're working on that, they're ironing it out.
01:20So my sense is that this is an issue which is heading towards a landing point.
01:29You're still waiting for the final part of that.
01:31I think we are waiting on a few things.
01:34I don't, you know, honestly, I wouldn't be comfortable spilling the beans in public.
01:40It's a small select order.
01:43I can see that.
01:44With a small select camera there.
01:48But having said that, look, here's the issue.
01:53When countries negotiate with an economy like the United States, obviously one part of it
01:59is what you work out between yourselves and the U.S.
02:02And one part of it is how do you fare vis-a-vis competitive economies.
02:08And that part of it is not entirely clear because not everybody has worked out their deal.
02:12So I think people, you know, the trade ministers, U.S.T. are there and our commerce and industry minister,
02:18they're working on that, they're ironing it out.
02:21So my sense is that this is an issue which is heading towards a landing point.
02:31And my colleague Rohit Sharma is now joining us on the story.
02:35Rohit, how close are we to closing this deal?
02:38Because on one hand, just a few days ago, Finance Minister Nirmala Sitaraman had said
02:43that the talks have hit a plateau, whereas now the External Affairs Minister S.J. Shankar
02:47is saying that the deal could be closed very soon.
02:52Well, I think, you know, and again, I think when the finance minister made that comment,
02:57you know, one could interpret it the way you want it to, right?
03:00I mean, so hitting a plateau meant, you know, well, we've been, we're at a place where,
03:05you know, the only way forward would be to announce the deal, right?
03:07Or, you know, we've hit a plateau.
03:09So I think for Mr. Jai Shankar is, again, again, coming from him directly,
03:15you know, we are in a phase where we're just waiting on a few things
03:18and something that he did not say publicly.
03:20But I think something that we've been told from our sources is the fact that
03:24we've been waiting just for the 301 tranche 2 investigation report to come.
03:30That would mean essentially if, you know, India is tariffed at a number, which we are all waiting for,
03:38what would that be?
03:39If it's lesser than our competitors in the same segment they've been competing with,
03:43and for example, Bangladesh or Sri Lanka or other nations, then, you know, I think we'll be closer to that
03:50deal
03:50or announcement of that deal when Prime Minister Modi visits America in December.
03:56Now, that's certain to happen.
03:59Prime Minister is going to be in America.
04:01But what we do not know is, you know, when the investigation will be completed.
04:05We did know that that could be completed by the end of this month.
04:10So we'll have to wait and watch.
04:11But everything could be lined up when Prime Minister visits America in December.
04:16Thank you for those details.
04:18External Affairs Minister Esther Shankar has given a big update on the India-U.S. trade deal,
04:22saying that that can be finalized very soon.
04:25And on the other hand, Marco Rubio, who is the U.S. State Secretary,
04:28will also be visiting India on October 17.
04:32And remember, this is the second visit of Marco Rubio to India.
04:36He last visited in May and now once again in October, he will be visiting India.
