India is considering reducing customs tariffs on select US imports, like gas and farm produce, in a bid to secure concessions in regulations for its own exports. Negotiations aim to finalize the first part of a Bilateral Trade Agreement within six months, focusing initially on goods trade.
Three-day talks on trade pact begin today: Govt weighs relief for US feedstock, cherries
India, US to focus on higher market access, lower import duty and trade barriers: Govt to Parliament
1 year ago
India and the US are set to increase market access and improve bilateral trade by reducing tariffs and enhancing supply chain integration. With recent progress in exporting goods under PLI schemes, India aims to strengthen its domestic production across key sectors including pharmaceuticals and electronics, while engaging in trade agreements with partners like EFTA.
The textile and apparel industry has set a target of $100 billion in exports by 2030 and proposed a five-point plan. Key measures include removing the 10% import duty on cotton fibers, launching an incentivization scheme, fast-tracking PM MITRA parks, expediting FTAs with the EU and USA, and not increasing GST rates for ready-made garments.
India must be cautious in trade pact talks with US amid legislative risks in America: GTRI
1 year ago
India needs to be careful while negotiating a trade agreement with the US due to the lack of Fast Track Authority, which may lead to Congressional changes and demands for policy shifts, potentially affecting its sovereignty. These factors create significant uncertainty and highlight the importance of vigilance during negotiations.
India is considering cutting tariffs on over half of U.S. imports worth $23 billion as part of a trade deal to avoid reciprocal tariffs from the U.S. due to take effect on April 2. The reduction, which could apply to goods subject to 5%-30% tariffs, aims to alleviate the impact of U.S. tariffs on India’s […]
India aims to be among top five global shipbuilders by 2047: Waterways Minister Sarbananda Sonowal
1 year ago
India aims to become a top five global shipbuilding nation by 2047 through policy reforms, $20 billion investment in infrastructure, and trade route development. Minister Sonowal emphasized sustainability and green initiatives, with plans to increase cargo share and collaborate internationally on maritime innovation.
India is taking significant steps to enhance port infrastructure and boost business efficiency, as stated by the Minister of Shipping, Ports and Waterways. Efforts include the development of green hydrogen hubs, strategic trade corridors, and digitalization initiatives, aiming to position India as a leading maritime nation by 2047.
Assistant US Trade Representative for South and Central Asia Brendan Lynch is in New Delhi starting Tuesday for three days of negotiations on the proposed trade deal. His visit comes ahead of the April 2 deadline for likely imposition of reciprocal tariffs on all countries, including India, by the Trump administration.
India will request an exemption from US reciprocal tariffs during trade negotiations with US officials this week. Discussions will focus on forming a bilateral trade agreement. India has already reduced some import taxes and is considering further reductions to meet US concerns.
Brendan Lynch, Assistant US Trade Representative, will visit India for crucial trade talks from March 25-29. Discussions with Indian officials aim to enhance bilateral trade and include the impending reciprocal tariffs by the US. India plans to expand trade with the US to $500 billion by 2030.