India-US Trade Talks: Navigating Tariffs and Opportunities

India and the United States continue their negotiations on a bilateral trade agreement, progressing in a cooperative atmosphere since March, according to India's Commerce and Industry Minister Piysuh Goyal. The talks aim to resolve trade barriers and double bilateral trade to USD 500 billion by 2030.

A recent hurdle emerged with the US imposing a 50% import duty on Indian goods, affecting India's exports in sectors like shrimp and textiles. Despite this, both countries remain committed to the discussions, motivated by the potential of a substantial economic partnership.

The negotiations have also faced challenges regarding market access in sensitive sectors; however, both countries are determined to reach an agreement that will benefit the economic relations they share. No new dates have been set for the next negotiation round following a tariff-related delay.

(With inputs from agencies.)