India Eyes U.S. Free Trade Agreement Amid Rising Tariffs Concerns

Former Foreign Secretary Harsh Vardhan Shringla remains optimistic about a potential U.S. Free Trade Agreement despite looming tariffs. Highlighting close ties between Prime Minister Modi and President Trump, Shringla underscores the importance of shared values in navigating trade challenges. India explores alternative markets to mitigate tariff impacts.

As the United States' 50 percent tariffs on Indian goods come into effect, former Foreign Secretary and Rajya Sabha MP Harsh Vardhan Shringla remains hopeful for a 'satisfactory mutually beneficial' Free Trade Agreement (FTA) with the U.S. Shringla emphasized the 'close and special partnership' shared between Prime Minister Narendra Modi and former President Donald Trump.

Shringla, addressing misconceptions, clarified that he expressed hope, not certainty, about the FTA. He reflected on the potential of the Modi-Trump relationship, citing events like 'Howdy Modi' and 'Namaste Trump,' developed during Trump's first term, as a firm foundation for future trade collaborations.

Facing the imminent tariffs, Shringla assured that India is working to 'minimize' their impact by exploring alternative markets and maximizing existing FTAs with the UK, Australia, and UAE. He expressed confidence in India's relationship with the U.S., underscoring shared values and principles as the cornerstone for overcoming these economic challenges.

(With inputs from agencies.)