USIBC President Urges US-India Trade Deal Amid Tariff Concerns
US-India Business Council's Atul Keshap stresses the need for a mutually beneficial trade deal amidst US tariffs on Indian goods. He highlights the importance of collaboration in AI and defense production, urging leaders to negotiate productively, as potential disruption looms over the relationship and economic growth prospects.
- Country:
- United States
Amid mounting concerns over US-imposed tariffs on Indian goods, USIBC President Atul Keshap has called for a mutually beneficial trade agreement between the two countries. While acknowledging the relatively minor impact on the US economy due to India's 2.5% share in American trade, the focus remains on achieving a constructive resolution.
Keshap highlighted the significance of Indian pharmaceutical imports to the US, although he do not foresee the same disruptions as faced from tariffs on Chinese and European goods. The uncertainty, however, casts a shadow over American and Indian companies, leading to increased anxiety about potential economic impacts, stressing the need for a strategic approach.
The potential for collaboration in AI, semiconductors, and defense production is critical, according to Keshap, who warned that missing the opportunity for a robust deal could harm both nations' interests. As US impatience grows, Keshap advocates for dialogues between leaders to ensure reasonable accommodations are reached to enhance the prominent US-India partnership.
(With inputs from agencies.)
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