<p>There is a chance of a "mini trade deal" between the US and India even before the November 3 presidential election in the United States, a top American diplomat has said.</p>.<p>India and the US are negotiating a deal to iron out differences on trade issues to boost economic ties.</p>.<p>Prime Minister Narendra Modi and President Donald Trump have a strong personal bond and a strong commitment to do a trade deal, "so there's a chance", Deputy Secretary of State Stephen Biegun said at the third India-US Leadership Summit organised virtually by the US India Strategic and Partnership Forum (USISPF) on Monday.</p>.<p>Biegun was responding to a question on the prospect of a mini trade deal before the US presidential election in November.</p>.<p>"Do you think we’ve got a chance at a mini trade deal before the election?" former US Ambassador to India Richard Verma asked.</p>.<p>"I think there's a chance. It's going to take a little more energy," Biegun said.</p>.<p>"The time is short before the US elections and a lot of governments around the world are hedging a little bit. I wouldn't be surprised if the Indian government as well,” the American diplomat said.</p>.<p>The US remained India's top trading partner for the second consecutive fiscal in 2019-20. According to the data of the commerce ministry, in 2019-20, the bilateral trade between the US and India stood at $88.75 billion, as against $87.96 billion in 2018-19.</p>.<p>The US is one of the few countries with which India has a trade surplus. The trade gap between the countries has increased to $17.42 billion in 2019-20 from $16.86 billion in 2018-19, the data showed.</p>.<p>In 2018-19, the US had surpassed China to become India's top trading partner.</p>
<p>There is a chance of a "mini trade deal" between the US and India even before the November 3 presidential election in the United States, a top American diplomat has said.</p>.<p>India and the US are negotiating a deal to iron out differences on trade issues to boost economic ties.</p>.<p>Prime Minister Narendra Modi and President Donald Trump have a strong personal bond and a strong commitment to do a trade deal, "so there's a chance", Deputy Secretary of State Stephen Biegun said at the third India-US Leadership Summit organised virtually by the US India Strategic and Partnership Forum (USISPF) on Monday.</p>.<p>Biegun was responding to a question on the prospect of a mini trade deal before the US presidential election in November.</p>.<p>"Do you think we’ve got a chance at a mini trade deal before the election?" former US Ambassador to India Richard Verma asked.</p>.<p>"I think there's a chance. It's going to take a little more energy," Biegun said.</p>.<p>"The time is short before the US elections and a lot of governments around the world are hedging a little bit. I wouldn't be surprised if the Indian government as well,” the American diplomat said.</p>.<p>The US remained India's top trading partner for the second consecutive fiscal in 2019-20. According to the data of the commerce ministry, in 2019-20, the bilateral trade between the US and India stood at $88.75 billion, as against $87.96 billion in 2018-19.</p>.<p>The US is one of the few countries with which India has a trade surplus. The trade gap between the countries has increased to $17.42 billion in 2019-20 from $16.86 billion in 2018-19, the data showed.</p>.<p>In 2018-19, the US had surpassed China to become India's top trading partner.</p>