Positive Advances in US-India Trade Talks: Path to New Heights
Negotiations between India and the US on a trade agreement, initiated in March, are progressing well, according to Indian Commerce Minister Piyush Goyal. The aim is to conclude the first phase by 2025 and double bilateral trade to USD 500 billion by 2030. Tariff disputes remain a challenge.
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India and the United States are experiencing positive progress in their ongoing trade agreement negotiations, as reported by Commerce and Industry Minister Piyush Goyal. Discussions, which kicked off in March, have now completed five rounds, though they have faced hurdles due to tariff disputes.
The proposed bilateral trade agreement, urged by Prime Minister Narendra Modi and US President Donald Trump, aims for completion in its first phase by 2025. The nations are aspiring to double their trade in goods and services to USD 500 billion by 2030, from the current USD 191 billion.
Despite high tariff challenges, notably a 50% import duty imposed by the US on Indian goods, the dialogue remains active. Modi expressed optimism about the negotiations, envisioning enhanced bilateral partnerships and trade relations benefiting both countries.
(With inputs from agencies.)
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