India, US on the heels of finalising a critical minerals agreement, ‘big announcement in few months’, says Sergio Gor

US ambassador to India, Sergio Gor, on Friday announced that India and US are close to finalising a minerals agreement, with a “big announcement” expected in the “next few months”. He made the comments while speaking at the India Today Conclave.

“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 further emphasised that ties between Washington and New Delhi could reach “historic heights,” pointing to recent breakthroughs — including the interim US-India trade agreement — as steps toward strengthening the partnership.

‘Seeing breakthroughs…’

Gor added that in the coming months India and US are expected to deliver tangible outcomes, reflecting the governments’ political will to turn opportunities into concrete 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.

Gor speaks about India-US interim trade deal

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.

On February 7, 2026 – India and US – announced that they have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement).

India-US interim trade deal – Key highlights

– Key terms of the Interim Agreement included India eliminating or reducing tariffs on all US industrial goods and a broad set of agricultural and food products. These included items such as dried distillers' grains (DDGs), fresh and processed fruit, red sorghum for animal feed, soybean oil, tree nuts, wine and spirits, and other additional products.

– On its part, the US will apply a reduced reciprocal tariff rate of 18% on Indian exports, with scope for further reductions as negotiations move forward.

– Items with reduced 18% tariffs include: artisanal products, certain machinery, home decor, leather and footwear, organic chemicals, plastic and rubber, and textiles and apparel.

— As per the joint statement, India also intends to purchase $500 billion of US products over the next 5 years, including: aircraft and aircraft parts, coking coal, energy products, precious metals, and technology products.