Historic Trade Talks: India and US Eye Landmark Agreement Amid High Tariffs

The US and India are engaged in important negotiations over a proposed bilateral trade agreement. Amid high tariffs imposed by the US, talks aim to finalize a mutually beneficial pact that addresses issues like agricultural duties and reciprocal tariffs. The agreement is aimed at boosting bilateral trade significantly by 2030.

The United States and India are in crucial discussions over a proposed bilateral trade agreement, with the US Trade Representative describing India's offers as the best ever received. These discussions come as both nations aim to conclude the first phase of the trade agreement amid pressure from steep US tariffs on Indian goods.

Lead negotiators from both countries, including US Deputy Trade Representative Rick Switzer and India's Commerce Secretary Rajesh Agrawal, are holding talks in India. The negotiations are critical as they focus on overcoming tariff challenges and settling terms that could significantly enhance bilateral trade relations.

Amid high tariffs that affect Indian exports to the US, the talks seek to address key demands, including US desires for duty concessions on agricultural products. While India remains steadfast in protecting its agricultural and MSME sectors, both countries are committed to doubling their trade by 2030, marking a significant economic milestone.

(With inputs from agencies.)