In an interview with CNBC-TV18, Malik remarked that a “substantial amount of conversation, discussion, and negotiation” has already taken place regarding the proposed deal. Negotiators from both countries believe there is enough alignment to proceed. “A lot has been agreed upon. Both sides have shown their intentions,” he added, mentioning that officials at the operational level feel “reasonably satisfied” with the framework of the agreement.
However, the ultimate decision lies with the US President, both regarding the trade deal and the continuation of Russia-specific sanction tariffs that are currently impacting India. Malik emphasized that the ambiguity surrounding President Trump’s stance has become the main barrier to finalizing the deal.
“There is uncertainty regarding President Trump’s intentions with the sanctioned tariffs, particularly those related to Russia, which definitely need to be lifted,” Malik stated, claiming that India has been unjustly targeted. “Nobody really understands why they exist.”
India is currently facing heightened tariffs from the US, even as discussions have extended for several months. Malik cautioned that the delays are starting to yield political and strategic ramifications in New Delhi. “The sentiment in India is starting to shift negatively. We’ve waited long enough,” he said.
He warned that if progress isn’t made soon, India might begin reassessing its economic interactions, even if it comes with challenges. “If we don’t see movement quickly, I believe India will start diversifying and endure the associated costs,” Malik indicated, hinting at a more aggressive approach toward alternative trade partnerships and arrangements.
Also Read | India, US continue talks on ‘fair and balanced bilateral’ trade agreement: MEA
These remarks follow a meeting between Indian Ambassador to the US Vinay Kwatra and US Ambassador-designate to India Sergio Gor at President Trump’s Mar-a-Lago residence in Florida, a gathering regarded as significant with Gor’s anticipated arrival in New Delhi in mid-January. Malik characterized this interaction as one of the final chances for senior-level discussions before Gor assumes his role in India.
“Trade agreements are never final until they are finalized, and they can always be renegotiated and refined,” Malik stated. “However, there is no valid reason for President Trump not to act favorably on both the trade agreement and the Russia-specific tariffs.”
With most technical concerns resolved, the focus has shifted to Washington’s political leadership. For India, the extended wait poses the risk of transforming a nearly finalized trade agreement into a test of patience—and a catalyst for strategic diversification if uncertainty persists.
Watch accompanying video for entire conversation.
