US Ambassador Sergio Gor Says Big Items Done on India Trade Deal and Decision on Russian Oil Tariffs Due in Days

US Ambassador to India Sergio Gor said on October 15 that the major elements of a bilateral trade agreement are finished and that Washington expects a decision within about ten days on possible additional tariffs tied to India’s purchases of Russian oil.

At the Bloomberg New Economy Forum in New Delhi, Gor stated, “The big picture, the big framework, the big items are done.” He added that the two sides are “very close to landing it,” echoing remarks by External Affairs Minister S. Jaishankar. Negotiations have run for about a year and a half. Gor contrasted the pace with the India-EU free trade agreement, which took nearly 20 years before conclusion earlier this year.

India’s Commerce Minister Piyush Goyal indicated the first tranche is in legal drafting. Bilateral goods and services trade already exceeds $250 billion. An earlier framework had lowered US tariffs on Indian goods from peaks near 50 percent to 18 percent, but a subsequent US Supreme Court ruling on reciprocal tariffs required reworking parts of the arrangement. Gor said the administration is adjusting those elements.

A separate US law passed with strong Senate support authorizes tariffs of up to 100 percent on countries buying Russian oil and gas. Gor said President Trump will decide on application to India “within the next 10 or so days.” He described the goal as ending the war rather than punishing trading partners. Indian refiners have continued purchasing discounted Russian crude, which has supported domestic fuel availability and export earnings.

The remaining issues include product-level tariff lines, rules of origin, and newer technology standards that emerged during talks. Gor noted that large economies generate thousands of line items, so smaller details continue even after the core framework is set. Completion would expand market access for agricultural goods, manufactured products, and services on both sides.

The timing coincides with expected high-level visits, including possible travel by Secretary of State Marco Rubio. A concluded deal would remove one source of uncertainty for Indian exporters facing current US duties and for American firms seeking clearer access to Indian procurement and services markets. The Russian-oil tariff question sits outside the main trade text but could affect the final political calculation in both capitals.

Officials on both sides have avoided publishing a full list of outstanding items. The public statements from Gor and Jaishankar provide the clearest signal yet that the bulk of the technical work is complete and that announcement timing now depends on final legal review and the separate oil-related decision.