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India, US may agree on interim trade pact by June 25, says report

Business Today

Business Today · 3m ago

India, US may agree on interim trade pact by June 25, says report

India and the US aim to finalize an interim trade pact by June 25, to further strengthen their bilateral relationship. In 2024-25, the US remained India's largest trading partner, with trade totaling $131.84 billion. India seeks duty concessions on textiles, gems, jewelry, and several agricultural products, while the US requests concessions on industrial goods, automobiles, wines, and agricultural items. They aim to conclude the first phase of the agreement by September-October 2025, enhancing economic ties further.

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Last-ditch efforts on to avoid higher US tariffs as India pushes for trade pact: Sources

Economic Times

Economic Times · 1m ago

Last-ditch efforts on to avoid higher US tariffs as India pushes for trade pact: Sources

India and the US are in last-minute negotiations to finalize an interim trade deal before the August 1 deadline, avoiding increased US tariffs. The US tariffs, initially suspended, are set to resume without an agreement. India seeks concessions on tariffs particularly affecting sectors like steel, aluminum, and textiles, while the US desires reduced duties on industrial goods and agricultural products. The talks aim to resolve trade barriers and finalize some agreements by fall 2023.

US team to visit India in August for next round of talks for trade pact

Economic Times

Economic Times · 1m ago

US team to visit India in August for next round of talks for trade pact

A US team is set to visit India in August for further trade discussions, aiming to finalize an interim trade deal. Upcoming talks focus on the suspension of Trump-era tariffs, with India's negotiator Rajesh Agrawal and US counterpart Brendan Lynch deliberating. Key issues include US demands for agricultural duty concessions and India's push to eliminate tariffs on steel, aluminum, and textiles. The countries aim to conclude initial trade agreement discussions by fall 2023.

India-US trade pact talks gain momentum, says Goyal

Economic Times

Economic Times · 1m ago

India-US trade pact talks gain momentum, says Goyal

Commerce and Industry Minister Piyush Goyal announced that trade agreement negotiations with the US are progressing rapidly. The US delegation will visit India for further discussions, following the recent completion of the fifth negotiation round in Washington. Both nations aim to finalize the initial phase of the agreement by September-October, targeting to increase bilateral trade from USD 191 billion to USD 500 billion. Additionally, a free trade agreement with Oman is nearing completion.

US team to visit India on August 25 for next round of talks for trade pact

Economic Times

Economic Times · 1m ago

US team to visit India on August 25 for next round of talks for trade pact

A U.S. delegation is scheduled to visit India on August 25 for a new round of negotiations on a proposed bilateral trade agreement. Both countries aim to finalize an interim trade deal before the August 1 tariff deadline. Key discussion points include U.S. demands for duty concessions on agricultural and industrial goods and India's requests for tariff relief in sectors like textiles and electronics. Talks are expected to conclude a first phase by September-October.

Indian markets stare at short-term jitters from Trump's tariff hit

Livemint

Livemint · 29d ago

Indian markets stare at short-term jitters from Trump's tariff hit

Indian markets may face short-term challenges due to a 25% tariff imposed by US President Donald Trump on imports from India, affecting key export sectors like textiles, pharmaceuticals, and automotive components. Despite this, experts believe the impact will be temporary, with hopes of a trade agreement between India and the US. Negotiations for a bilateral trade deal are scheduled for August, potentially alleviating market pressures.

Race against tariffs: India toughens stand on agri trade as US talks enter crucial phase

Economic Times

Economic Times · 2m ago

Race against tariffs: India toughens stand on agri trade as US talks enter crucial phase

India has intensified its position on agricultural issues during crucial trade talks with the US in Washington. Led by Special Secretary Rajesh Agrawal, the Indian delegation seeks to finalize an interim trade agreement to avoid the reinstatement of a 26% US tariff on Indian goods by the July 9 deadline. While the US demands concessions on agricultural, industrial, and tech products, India aims for reduced tariffs on labor-intensive sectors, working towards doubling trade to $500 billion by 2030.

US trade pact set for early finish: Piyush Goyal

Economic Times

Economic Times · 2m ago

US trade pact set for early finish: Piyush Goyal

India and the US aim to finalize a bilateral trade agreement by fall 2025, as discussed by Commerce Minister Piyush Goyal. India is pursuing multiple free trade agreements (FTAs) with various advanced economies and focusing on ease of doing business, deregulation, and economic stability. The government is also addressing supply chain challenges and encouraging investment. India's IT services exports remain crucial, with ongoing strategies to adapt and thrive amid AI advancements and global market changes.

Indian team back from US; trade talks to continue

Economic Times

Economic Times · 1m ago

Indian team back from US; trade talks to continue

Indian and US negotiators recently concluded a round of trade talks, focusing on an interim trade agreement, although unresolved issues in agriculture and auto sectors persist. These discussions aim to finalize an interim pact before Trump’s reciprocal tariffs are reinstated on July 9. India resists conceding duty breaks in sensitive sectors like agriculture, while seeking concessions for labor-intensive areas. The overall goal is to significantly increase bilateral trade, with a full agreement anticipated by autumn 2023.

India, US push for trade pact as deadline nears

Economic Times

Economic Times · 2m ago

India, US push for trade pact as deadline nears

India and the US are engaged in intense discussions to finalize a trade pact before the July 9 deadline, when the 90-day pause on US retaliatory tariffs ends. Key issues include India's demand to roll back tariffs and the US's aim to sell genetically modified crops to India. Both sides have resolved several matters, though some sectors like agriculture remain challenging. A limited trade deal, possibly excluding broader issues, is anticipated.

India should avoid rushing for trade pact with US, warn experts

Economic Times

Economic Times · 1m ago

India should avoid rushing for trade pact with US, warn experts

Experts caution India against rushing into a trade deal with the US, particularly concerning core sectors like agriculture. They highlight that the US is pressuring multiple countries, including the EU and Mexico, with high tariffs and demanding concessions. Many nations resist these politically driven demands, fearing a lack of lasting trade certainty. India is advised to proceed cautiously, as hasty agreements could have irreversible consequences, especially with shifts in US political dynamics.

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