US, India should intensify efforts to conclude "historic" trade deal, lower tariffs: USIBC President Atul Keshap

Washington: The US and India should intensify efforts to conclude a "historic" trade agreement that lowers trade barriers and minimises tariffs, providing greater certainty to the bilateral economic and strategic partnership, US-India Business Council (USIBC) President, Ambassador (ret.) Atul Keshap said, according to a statement by USIBC.

Calling on both governments to intensify efforts to conclude a trade agreement, Keshap said unlocking reciprocal trade would build on the record investments made in 2026 and benefit businesses in both India and the US.

"Unlocking reciprocal trade will build on 2026's record investments and secure a win for American and Indian business that delivers immediate benefits to working families by boosting manufacturing, opening vast new consumer markets, and cementing both nations as global leaders in AI," he said.


Also read: Trade deal between India and US done & dusted: Piyush Goyal

According to Keshap, the agreement would build on the progress made this year and provide greater certainty to the important economic and strategic partnership between the two countries.

"We call on both governments to use this opportunity to conclude an agreement that lowers trade barriers, and minimizes tariffs. A historic agreement would encapsulate this year's hard-won progress providing greater certainty to an incredibly consequential economic and strategic bilateral partnnership," the statement read.

He also highlighted, the USIBC members strongly support the US-India partnership and are keen to work with both governments to deepen cooperation between the two economies.

"U.S.-India Business Council members are steadfast champions of this partnership. We look forward to working with both governments to accelerate collaboration between the world's largest economy and its fastest-growing major economy." the statement added further.

Also read: India's global apparel export share stuck at 3% despite China losing ground; FTAs, China+1 open opportunity: Report

In a seperate development, Commerce and Industry Minister Piyush Goyal on Thursday said India and the US have "done and dusted" the trade pact and will execute it once Washington gives India the right competitive advantage over its rivals in the American market.

Speaking at the 13th Annual Forum 2026 India 3.0, the Minister said, "The nine agreements and I include the US which is almost done and dusted. We have to find the right comparable competitive advantage over our competitors so that we can quickly execute the agreement."

The US remained the top destination for Indian exports, with goods shipments rising to USD 42.79 billion in April-August from USD 40.39 billion a year earlier as per Reuters.