Commerce and Industry Minister Piyush Goyal announced that India and the United States are in advanced negotiations for a bilateral trade agreement.
India has already finalized free trade agreements with three countries in the Five Eyes alliance—Australia, the UK, and New Zealand—and plans to re-engage Canada for a trade pact.
Goyal highlighted the significance of these developments in the context of India’s increasing geopolitical importance. Earlier discussions with the US delegation, including Deputy Trade Representative Rick Switzer, were noted to be substantive, with expectations for an interim agreement aimed at reducing steep tariffs on Indian exports.
Commerce Secretary Rajesh Agrawal stated that the initial framework deal with the US is close to conclusion but refrained from providing a timeline, emphasizing thorough negotiations over haste.
Despite positive discussions, India has clarified that it will not compromise on critical sectors such as agriculture and dairy. The US has also indicated intentions to reduce import tariffs on India, with President Trump expressing optimism about the talks.
Furthermore, India’s decision to increase its imports of oil and gas from the US aims to address the trade surplus issue, marked by a historic LPG import contract with US Gulf Coast suppliers slated for implementation in 2026.
Source – sarkaritel.com
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