External Affairs Minister S Jaishankar, who is on a three-day visit to the United States, said he was hopeful that India and the US would reach a “successful conclusion” of their bilateral trade deal, but could not “guarantee it”. He stressed the need for “give and take” and for the two countries to find a “meeting ground”.
In a conversation with Newsweek Chief Executive Officer Dev Pragad at the publication’s headquarters at One World Trade Centre near the 9/11 Memorial in Manhattan, Jaishankar termed the negotiations on the bilateral trade agreement (BTA) as extremely complex, adding that an Indian delegation has been in Washington, DC for the past few days.
“If they can get a fair balance, you will get an outcome. Obviously, diplomacy is an optimistic profession, so I hope that we will reach there,” he said, adding: “But things being what they are, it's not done till it's done.”
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The External Affairs Minister said: “There will have to be give and take, and just like the people in the US have views about people in India, people in India have views about the US too. We will have to find a meeting ground. I believe this is possible. I think we will have to watch this space for the next few days.”
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Prefacing his remarks on the trade deal, Jaishankar reflected on the broader India–US ties. “Relationships will never be free of issues, even differences. What matters is the ability to deal with issues and keep that trend going in the positive direction.”
Regarding the deal, he said: “Yes, we are in the middle — hopefully more than the middle — of a very intricate trade negotiation. Obviously, my hope would be that we bring it to a successful conclusion. I cannot guarantee it because there is another party to that discussion.”
Jaishankar clarified that India and the US were not negotiating a free trade agreement (FTA) but a BTA. “There is a reason why. If it is an FTA, it goes to the US Congress. If it's a BTA, it doesn’t go to (US) Congress. The boundaries are a little tighter there,” he said.
He noted that the negotiators on both sides had been discussing the deal over several months. “I can’t vouch for which country has had how many rounds, but I suspect we would be among the countries which has done the most. Even as I speak, our delegation is in Washington and they have been there for the last few days,” he said.
“These are complicated negotiations. You are really looking at thousands of lines and doing very intricate trade-offs, both based on what are actually the market values of those lines and what could be the expected market values of those lines. So these are not simple, back-of-the-envelope calculations,” he added.
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On disagreements between India and the US, Jaishankar said: “Sure, it happens. It won't be for the first time,” and recalled tensions during the tenures of the past five US presidents, starting with Bill Clinton. “In fact, at every one of these presidencies, I can think of something which at that time was a friction point,” he said, citing Washington’s plans to sell F-16 aircraft to Pakistan.
When asked about US President Donald Trump’s earlier claim that he used trade to stop a recent conflict between India and Pakistan — and whether that had affected trade negotiations — Jaishankar said: “No, I don’t think so. I think the trade people are doing what the trade people should be doing, which is negotiate with numbers and lines and products and do their trade-offs. I think they are very professional and very, very focused about it.”
Jaishankar is in the US to participate in the Quad Foreign Ministers’ Meetings scheduled for Tuesday. From there, he will join Prime Minister Narendra Modi at the BRICS Summit in Rio de Janeiro.
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EAM Jaishankar inaugurates exhibition 'human cost of terrorism' at UN
The Pahalgam terror attack was an act of economic warfare aimed at crippling Kashmir’s tourism industry, a key pillar of the region’s economy, External Affairs Minister S Jaishankar said. He said the attack was also intended to provoke religious violence, as people were asked to identify their faith before being killed, reported news agency PTI.
Jaishankar, who is on a three-day visit to the US, made the remarks while inaugurating an exhibition titled ‘The Human Cost of Terrorism’ at the United Nations headquarters. As a reminder of how terror can target more than just lives, the recent Pahalgam attack underscores a deeper strategic motive. We take a look at how it was an assault on Kashmir’s economic lifeline — its tourism industry.
A glimpse of today’s inauguration of exhibition on ‘The Human Cost of Terrorism’ @UN. ???????????????? pic.twitter.com/r3WzRSIfZO
— Dr. S. Jaishankar (@DrSJaishankar) June 30, 2025
Pahalgam attack cripples tourism in J&K
The terror attack in Pahalgam that claimed 26 lives has dealt a severe blow to Jammu and Kashmir’s tourism sector, shattering the region’s long-standing image as ‘paradise on Earth’. The attack triggered a wave of booking cancellations just ahead of the peak summer season.
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Mass cancellations of flights
In the immediate aftermath of the attack, terrified tourists cancelled flight bookings in large numbers, while retaliatory airstrikes by India led to the temporary closure of several border airports, including Srinagar, further disrupting travel plans.
Hotels slash rates as occupancy collapses
The hotel industry has also suffered. Occupancy levels plunged to near zero, forcing hoteliers to slash room rates by up to 50 per cent in a bid to attract the few remaining visitors.
ALSO READ: Pahalgam attack wrecks Kashmir tourism; hotels, airlines demand action
Security fears prompt closure of public spaces
Adding to the blow, authorities shut access to 48 of the valley’s 87 public parks and gardens, citing security concerns. Nearly 50 parks in high-risk areas were closed as a precaution, further limiting tourism activity. Although the Jammu administration has reopened 16 tourist hotspots, footfalls continue to remain low, reflecting sustained fear and uncertainty among travellers.
Economic fallout continues in Kashmir
Tourist footfalls in the valley remain low. The broader economic fallout has been severe, impacting hotel owners, houseboat operators, and transport providers. Last month, airlines and hospitality players urged the Centre to announce immediate relief measures to support the region’s battered economy.
Industry hopes rest on October revival
The summer season is all but lost. The J&K tourism industry is now pinning its hopes on a recovery in October, ahead of the winter season. However, the path to revival remains uncertain amid lingering security concerns.
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