New Delhi, Oct. 19 -- Indian industry leaders have expressed optimism over the early conclusion of the India-US bilateral trade agreement following US Secretary of State Marco Rubio's remarks that the two countries are close to finalising a deal, while welcoming Washington's decision to waive new Russia-related tariffs and sanctions.

Speaking to ANI, Pankaj Chadha, Chairman of the Engineering Export Promotion Council (EEPC), said the proposed trade agreement was in its final stages and its conclusion would depend on political will.

"I look at it optimistically that our deal is going to happen. It is on the anvil. It should happen. And we are thankful that the Russia tariff is temporarily, at least not on our head. So this is good for us...