India-US Trade Talks: Navigating Tariffs and Market Access

India and the US are negotiating a trade deal to resolve tariff issues, with the US President claiming they are 'very close' to an agreement. Both nations aim to keep tariffs below 20%, but India remains firm on not hastening the process, especially regarding agri and dairy sectors.

India and the United States are engaged in intensive negotiations to finalize a trade pact, aiming to address pending issues related to tariffs. The Ministry of External Affairs reported on Thursday that efforts to iron out these issues are ongoing, with both nations keen on reaching a consensus.

U.S. President Donald Trump has expressed optimism, asserting that Washington is 'very close' to securing a trade deal with India. Trump compared the potential agreement to a previous pact between the U.S. and Indonesia, suggesting it could offer American businesses better access to Indian markets.

India, while exploring concessions in the agriculture and dairy sectors, remains firm on avoiding hasty agreements. Commerce Minister Piyush Goyal emphasized that any trade deal with the U.S. would be finalized when fully concluded and advantageous for India's interests. Talks are also underway to ease tariffs on steel, aluminium, and auto sectors.