India-US Trade Pact: A Strategic Opportunity for Enhanced Market Access

Experts urge India to expedite bilateral trade agreement discussions with the US, which could ensure preferential market access and boost technology partnerships. The agreement would tackle non-tariff barriers in critical sectors and is crucial for India's strategic trade positioning amidst rising US tariffs.

Experts are advocating that India expedite discussions on a bilateral trade agreement with the United States, emphasizing that such a deal could ensure preferential market access, enhance investor protections, and promote technology partnerships.

The proposed agreement is deemed crucial for addressing non-tariff barriers in sensitive sectors like chemicals, telecom, and medical devices, issues highlighted in the US tariff statement. Mutual Recognition Agreements could play a strategic role in easing regulatory challenges in these areas.

Despite new US tariffs potentially impacting India's current export sectors, experts, including Rudra Kumar Pandey from Shardul Amarchand Mangaldas & Co, see long-term strategic benefits. India can leverage its tariff exposure, policy incentives, and sectoral strengths to strengthen its position in a US-centric global supply chain.

(With inputs from agencies.)