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India, US close to critical minerals deal, big announcement expected soon: Envoy Sergio Gor
Gor said the agreement would help secure supply chains needed for advanced manufacturing, energy systems and emerging technologies.
US Ambassador to India Sergio Gor on Friday said Washington and New Delhi are close to finalising a critical minerals agreement, with a major announcement expected in the coming months.
Speaking at the India Today Conclave, Gor said the agreement would help secure supply chains needed for advanced manufacturing, energy systems and emerging technologies.
"I'm pleased to say that we are moving very close to finalising critical minerals agreements to help secure the supply chains needed for advanced manufacturing, energy systems and emerging technologies. Stay tuned, and in the next few months, we expect a big announcement."
He said the US-India relationship has the potential to reach “historic heights”, pointing to recent breakthroughs including the interim trade agreement aimed at strengthening economic ties.
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Sergio Gor on ‘breakthroughs’ between US and India
Sergio Gor said that in a few months, both countries will have delivered actual results, reflecting governments political willingness to translate opportunity into direct results.
"We are seeing something different. Instead of breakdown, we are seeing breakthroughs. We have already seen a remarkable series of breakthroughs that demonstrate the strength and momentum of the US-India partnership," he said.
"The relationship has the potential to reach historic heights and deliver results on a scale we have never seen before," he added.
Breakthroughs in trade, trust and technology
Gor further highlighted the recent breakthroughs, "First, a breakthrough in trade. Second, a breakthrough in trust and technology and third, a breakthrough in strategic coordination. Each reflects where the US-India partnership is headed."
Speaking on the India-US interim trade deal, Gor said, "The scale of our economy and the talent of our people and the entrepreneurial energy in both societies make the possibilities very clear. What was needed was the momentum and political will to translate opportunity into direct results. Today, we are beginning to unlock the potential."
"This partnership is not about tariffs and market access, it is also about securing the resources and supply chains that will define the global economy of the future," he added.
India and the United States on February 7 announced that they had reached a framework for an interim agreement on reciprocal and mutually beneficial trade. The framework reaffirmed both countries’ commitment to negotiating a broader US-India Bilateral Trade Agreement (BTA), which will include additional market access commitments and support more resilient supply chains.
The United States, meanwhile, will apply a reciprocal tariff rate of 18% under Executive Order 14257 of April 2, 2025, as amended, on originating goods from India. These include textiles and apparel, leather and footwear, plastic and rubber products, organic chemicals, home decor, artisanal products, and certain machinery.
