Advancements in India-U.S. Trade Negotiations Bring Hope for a Balanced Pact
Indian and U.S. negotiators have made significant progress in their trade talks. Key focus areas include market access, tariff cuts, and non-tariff barriers. Although resistant to certain U.S. demands, India is prepared to address simpler issues first. An interim agreement is expected by month's end.
In New Delhi on Tuesday, progress was reported in the latest India-U.S. trade deal negotiations, primarily concerning market access, tariff cuts, and non-tariff barriers. Indian government sources lauded the negotiations as productive, moving towards a balanced agreement with early gains.
Even though India's delegation resisted certain demands, such as opening markets to U.S. wheat, dairy, and corn, they offered concessions on high-value goods like almonds and pistachios. Despite the resistance, India remains committed to resolving simpler issues initially, aiming for a preliminary pact by month-end.
With talks poised to address more complex issues in upcoming phases, both nations aim to finalize the initial phase of the trade agreement by late 2025, potentially enhancing bilateral trade to $500 billion by 2030.
(With inputs from agencies.)
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