India is hopeful of completing an initial trade agreement with the US before July 9 with officials underlining that there has been good progress on the talks.
“We are working on an early trade deal with the US. The progress has been good. We are hopeful that this will be done within the timeline,” said Commerce Secretary Sunil Barthwal on Monday.
The 90-day pause on reciprocal tariffs by the US will come to an end on July 9.
Rajesh Agarwal, Special Secretary, Department of Commerce, who is also the chief negotiator for India for the BTA with the US, noted that the US team was in India for six days from June 5 to 11. “There is progress towards the target of finalising the first tranche of the trade deal by the fall of 2025,” he said.
While officials remained tight-lipped over other details of the proposed trade pact, they noted that both countries will have to reduce tariffs and increase market access to meet the target of doubling bilateral trade to $500 billion by 2050. Read more
Source: Business Today