India and US in High-Stakes Trade Talk: Challenges and Prospects

The Commerce and Industry Minister, Piyush Goyal, revealed ongoing negotiations between India and the US concerning a bilateral trade agreement, despite a steep 50% tariff imposed by the US on Indian goods. Goyal emphasized that this tariff would not harm India's economy significantly.

The tariff, perceived as an American pressure tactic to gain greater market access in sensitive sectors, has been labeled as unjust by India. Goyal assured that the Indian government's stance is to protect its farmers and cattle rearers from unfair trade practices.

Goyal confidently projected that India's export numbers for this year would surpass those of 2024-25, when exports reached an all-time high of USD 825 billion. However, the next round of trade talks remains unscheduled, causing delays in finalizing the agreement.

(With inputs from agencies.)