India Eyes Robust Trade Ties with US Amid Challenging Tariff Barriers

Commerce Secretary Rajesh Agrawal emphasized India's commitment to negotiating a trade pact with the US to enhance market access for Indian exporters amidst high tariffs. The talks, advancing towards the first phase of a Bilateral Trade Agreement, face challenges from steep US tariffs, yet remain crucial for expanding the bilateral trade relationship.

India is intensifying its trade discussions with the United States, aiming to secure deeper market access for its exporters, according to Commerce Secretary Rajesh Agrawal. In a recent address to the Federation of Indian Export Organisations (FIEO), he expressed optimism for concluding the negotiations promptly.

Despite significant tariffs imposed by the United States, Indian exporters have managed to maintain their presence in the market. Minister Piyush Goyal emphasized that the bilateral trade talks are pivotal as both nations work on finalizing the initial tranche of the Bilateral Trade Agreement (BTA), despite tariff obstacles such as the 50% duties on Indian goods enforced by the Trump administration.

The discussions, set to increase bilateral trade from USD 191 billion to USD 500 billion by 2030, have seen six rounds of negotiations so far. The US remains a principal trading partner for India, with substantial trade continuing even under the current tariff regime, highlighting the urgency to resolve these issues to help achieve India's export goals.

(With inputs from agencies.)