A temporary trade agreement between India and the United States could be concluded during the 90 -day period of suspension of tariffs announced by Trump Administration, provided that the official stated on Friday.
The official also mentioned that India and the US have already agreed on the conditions of references (TOR) to initiate negotiations on the agreement, PTI said.
Also read: “This is not a startup …”: Union Minister Piyush Goyal Slams Billionaire Kids ‘Healthy’ Startups ice cream; Here’s the reason
“There are many options to complete low hanging fruit. There are many ways to complete the form and shape of the BTA,” the clerk said, adding that everything is possible in 90 days if it is “mutually advantageous” for both sides.
India and the US are engaged in the completion of a trade agreement. Both sides targeted the first phase until the autumn (September-October) this year with the aim of more than double the bilateral trade of $ 500 billion by 2030 from about $ 191 billion, PTI reported.
“The work began. India is far from other countries in negotiating a business agreement,” said a government official, adding that India is constantly dealing with the US.
Many negotiations will happen through video conferences and some physical visits could occur.
Also read: “Kasab has been served biryani”: PIYUSH GYAL SLAMS CONGRESS IN THE BOM BOMBAIAL ESF
USA 2. April announced another 26 % tariff to Indian goods entering the US. On April 9, however, Trump’s administration announced their suspension in India for 90 days to 9 July this year. However, 10 % of the basic tariff deposited on countries will remain in place.
The official added that the US Vice President JD is probably also traveling to India.
Meanwhile, on the day, the Minister of Trade and Industry Piyush Goyal said that India is in a continuous dialogue with the US on the proposed agreement and the government will protect national and public interests because it is never appropriate to take any step with a disproportionate rush.
He said that all business interviews about Earth are doing well in the spirit of “India first” and to ensure the way to Viksit Bharat 2047.
Read also: the best interests of India in the foreground, bilateral business conversations “moving in the right direction”: Piyush Goyal on Trump tariffs
“Humne Pahle Bhi Kai Baar Kaha Hai Ki Hum Banduk Rakhke Kabhi is negotiating Nai Karte Hain. Desh hit Aur Jan hit Ko Hum Surrakshit on Rakh, Tab So Kabhi Bhi Jaldbazzi Karna Acch Nai Hai (I said we were going to get us. people, never good to be hasty)
When he spoke to other events within a possible deadline to conclude interviews for India-US, he said that the country must always have time or dates for any work they do.
“But in the case of free trade agreements, these are indicative timelines. We strive for these timelines. But at the end of the day it must be advantageous for both parties. It must be fair, fair and balanced. You can’t endanger the national interest just to fulfill the deadline,” he added.
From 2021-22 to 2023-24, the US was the largest Indian business partner. The US represents approximately 18 % of total exports between Indian goods, 6.22 % in imports and 10.73 % in bilateral trade.
In the fiscal year 2023-24, India recorded a trade surplus of $ 35.32 billion with the United States. This meant an increase in a surplus of $ 27.7 billion in the years 2022-23, $ 32.85 billion in $ 2021-22, $ 22.73 billion between $ 2020-21 and $ 17.26 billion in 2019–20.
The best Indian exploration to the US in 2024 included drug wording and biological substances ($ 8.1 billion), telecommunications equipment ($ 6.5 billion), expensive and semi -precious stones ($ 5.3 billion), oil products ($ 4.1 billion), and $ 2.18 billion), USD (USD) and $ 2.1 billions USD), and produced $ 2.18 billion), and produced from USD ($ 4.1 billion) (USD), and saving (USD) and saving and saving (USD), and saving and access products) (USD), and saving and access products ($ 4.1 billion), and saving and access products). saving. Products ($ 2.7 billion).
Humne Pahle Bhi Kai Baar Kaha Hai Ki Hum Banduk Rakhke Kabhi to negotiate Nai Karte Hain. (I said that human time before, we don’t negotiate to shoot.)
On the import side, the key items from the US were raw oil ($ 4.5 billion), oil products ($ 3.6 billion), coal and coke ($ 3.4 billion), reduced and polished diamonds ($ 2.6 billion), electric machines ($ 1.4 billion).
(Tagstotranslate) PIYUSH GYAL (T) trade agreement
