New Delhi, April 7 (PTI) India should speed up discussions about the proposed two -sided US business agreement, as the agreement could help ensure preferential access to the market, improve investor protection and support technological partnerships between the two countries, experts said on Monday.
They also said that the Pact for India is decisive to solve long -term non -tariff barriers in sectors, such as chemicals, telecommunications equipment and medical devices that have been explicitly marked in the US tariff statement.
Agreements on mutual recognition (MRA) for standards and test protocols could be a strategic step forward in reducing regulatory friction and improving market access in these sensitive sectors, they added.
Although new American tariffs could put short pressure on the key industry of India exports, the wider strategic landscape offers significant long -term advantages, said Rudra Kumar Pandey, partner, Sharchand Mangaldas & Co.
He said India could use its differential exposure to tariffs, political incentives, sectoral strengths and diplomatic involvement not only to ensure the current volume of trade, but also to stand as the main player in the future American-demented global architecture of the supply chain.
Strategic steps in the area of promotion of investment, business negotiation and regulatory alignment will be the key to transforming this challenge into an opportunity for transformative growth, he added.
“From the policy point of view, this development opens an early opportunity for India to initiate or speed up a debate on a bilateral investment agreement or an agreement on free trade with a limited place with the US,” Pandey said.
He added that the deposit of 26 % of imports in the US has considerable consequences for Indian exports, especially in industries such as gems and jewelry, electric and telecommunications equipment, electronics and textiles and clothing, which together represented approximately $ 37 billion in the US in the US in 2024.
(Tagstotranslate) bilateral business agreement
