US-India Trade Talks: Positive Steps Towards a Bilateral Trade Agreement

India and the US held constructive discussions to advance a bilateral trade agreement, focusing on resolving high tariffs and mutual benefits. The initiative follows significant trade tensions due to tariffs on Indian goods after Russia-related oil purchases.

The recent day-long discussions between the US and India on a future bilateral trade agreement ended on a positive note, with both parties committed to expediting the conclusion of a mutually advantageous deal, according to a Commerce Ministry statement released on Tuesday.

Visiting US Chief Negotiator Brendan Lynch, who held talks with India's Special Secretary at the Department of Commerce, Rajesh Agarwal, emphasized a forward-looking approach in negotiations. While both sides aim to continue discussions virtually, plans for the next in-person meetings are underway.

This dialogue comes after the US imposed significant tariffs on Indian goods, prompting India to defend its Russian oil purchases as necessary for national interests. Officials stressed protecting local farmers and businesses in the ongoing trade talks.

(With inputs from agencies.)