"We do understand that in the United States with the election atmosphere... the space available to their negotiators may not be enough," he said adding, "India wants to be a part of the solution in closing this round but this has to be an equitable package."

Speaking on "The US Trade Agenda" at the Peterson Institute For International Economics, Schwab stressed the importance of the US commitment to free and fair trade for American workers, farmers and entrepreneurs.

"You understand the need for a level playing field for American goods and services in the international marketplace - a marketplace where 95 percent of our potential customers lie beyond our borders, a marketplace in which we must compete to succeed," she said.

The US, Brazil, the European Union and a core group of other countries were working hard in Geneva to try to narrow the gaps in the negotiations aimed at spurring economic development through increased trade in agriculture, manufacturing and services, Schwab said in another speech at the State Department.

"The question is what is the contribution that China is going to make? What is the contribution that India is going to make?" Schwab asked at a meeting of the Council of Americas, a Western Hemisphere business group.