Tackling Trade: India and US in Complex Negotiations
India and the US are engaged in complex negotiations over a bilateral trade agreement. Despite challenges due to India's protection of its agricultural markets, both sides are seeking common ground. The US is considering reducing tariffs, but recent legal rulings complicate the dynamics of the ongoing negotiations.
- Country:
- United States
The US Trade Representative has described India as a "tough nut to crack" as negotiations over a bilateral trade agreement reach a critical stage. Led by Darpan Jain from the Indian Department of Commerce, a 12-member delegation met US officials to discuss the intricacies of the proposed deal.
Key sticking points include India's longstanding protection of its agricultural sector, which Greer outlined during a briefing with the US Congress Committee on Ways and Means. Despite these hurdles, areas of potential agreement, such as trade in distillers dried grains, are being explored.
India seeks preferential access to US markets and aims to increase bilateral trade to USD 500 billion by 2030. Changes in US tariff policy following a Supreme Court ruling are prompting India to reassess the agreement to safeguard its interests under evolving global trade frameworks.
(With inputs from agencies.)
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