The long-awaited trade deal between India and the United States is at a “very advanced stage,” Indian Oil and Natural Gas Minister Hardeep Singh Puri told CNBC on Tuesday.
“I’m going to try to look on the positive side. I’m not a fortune teller, so I don’t know when a trade deal will be done or how long it will take. But I think (everyone) needs to be a little calm,” he told CNBC’s Amitij Singh.
“I have heard from the parties involved (in the negotiations) that it is at a very advanced stage, and I am hopeful that it will see the light of day sooner rather than later,” he added.
Singh Puri described relations with the US as “very strong” and said India supports the multilateral trading system, as evidenced by the free trade agreement agreement with the European Union announced earlier on Tuesday.
He added that an open stance on trade would be in the United States’ interests as trade negotiations continue.
“There is an economic opportunity here for other countries that want a trade deal. So let’s change that. I think it will be mutually beneficial, not only for the EU, but also for the United States and other countries,” he said.
This is a story in development. Check back for more updates.
