India's Trade Talks with US and UAE Show Positive Momentum
Union Minister Piyush Goyal announced promising developments in India's trade negotiations with the US and UAE. Recent discussions emphasize a strategic partnership aimed at a Bilateral Trade Agreement by 2025. Challenges remain, such as US tariffs on Indian goods and concerns over agricultural market access.
- Country:
- United Arab Emirates
In a significant development, Union Minister for Commerce and Industry Piyush Goyal noted progress in India's ongoing trade talks with the United States. Speaking in Abu Dhabi, during the 13th UAE-India High-Level Joint Task Force on Investments, Goyal highlighted the robust strategic partnership underpinning the negotiations.
Goyal revealed that discussions with Brendan Lynch, the US Assistant Trade Representative, were positive, suggesting a forward trajectory in achieving a Bilateral Trade Agreement by October-November 2025. The relationship between the two countries remains strong and mutually beneficial, he added.
While talks have been progressive, challenges persist such as the imposition of 50% tariffs on Indian goods by the US, influenced by India's oil trade with Russia. Additionally, India is hesitant to open its agricultural and dairy markets to US competition, citing the importance of these sectors for livelihood.
(With inputs from agencies.)
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