Three-day talks begin between India and US to finalise interim trade deal; key issues and possibilities explored
मुख्य बातें
- •A three-day negotiation between India and the US began to resolve trade disputes and boost trade through an interim trade agreement.
- •The US had agreed to reduce tariffs on Indian imports from 50 per cent to 18 per cent, but changes in US tariff policies following court rulings have necessitated revisions to the agreement.
- •India proposed reducing tariffs on US industrial goods and offering concessions on agricultural products such as sorghum, nuts, fruits, soybean oil, and wine.
- •In FY 2024-25, India’s exports to the US reached $87.3 billion, while imports stood at $52.9 billion, with the trade surplus declining to $34.4 billion.
A three-day negotiation between India and the United States to finalise the terms of a proposed interim trade agreement began in New Delhi on Tuesday. The discussions are being held at the headquarters of the Ministry of Commerce and Industry in the Varanasi Bhawan, New Delhi. The American delegation is led by chief negotiator Brendan Lynch, while India’s team is headed by Additional Secretary in the Department of Commerce, Darpan Jain. The primary goal of the talks is to finalise the details of the interim trade agreement, and both sides will also strategise for a future comprehensive Bilateral Trade Agreement (BTA).
