India and US set to finalize mini trade deal: Key insights and implications

India and the US are nearing a mini trade deal, aiming to finalize the first phase by September-October with a goal to double bilateral trade to $500 billion by 2030. While sensitive agricultural issues remain, the focus is currently on industrial goods.

Indian apparel and footwear exporters anticipate a competitive boost in the US market as Washington imposes higher tariffs on several nations, including Bangladesh and Thailand. These elevated duties, set to take effect in August, are expected to benefit Indian products, particularly in the garment and leather sectors.

Amidst rising apple imports and US pressure to cut farm tariffs, Minister Goyal stated the government will review protections for homegrown apples, balancing grower support with consumer affordability. India imports 4.5-5 lakh tonnes of apples annually, with the US seeking preferential duty access.

Faced with potential US tariffs, India is exploring strategies to reduce its trade surplus. Increasing imports from the US in sectors like energy and aviation, alongside diversifying export markets, could mitigate tariff exposure. While challenges exist, these adjustments aim to strengthen Indo-US relations and balance India’s trade portfolio.

India US Trade Deal News: President Trump announced the U.S. is nearing a trade agreement with India, extending the deadline for reciprocal tariffs to August 1. This follows finalized agreements with the UK and China. The administration has notified 14 other countries of substantial new tariffs starting in August, amidst ongoing free trade agreement talks […]

India and the US are on the verge of finalizing a mini trade deal, potentially excluding sensitive sectors like dairy and agriculture. The agreement, expected to be announced soon, will initially focus on trade in goods.

India is in talks for investment treaties with nations like Saudi Arabia and Russia. These treaties aim to protect and boost investments. Deals with some countries may finalize soon. The government wants to revamp investment treaties to attract foreign investors. India implemented treaties with UAE and Uzbekistan last year. The goal is to balance investor […]

India and the United States may finalize a mini trade deal in the next 48 hours. CNBC-TV18 reports that discussions are complete. Negotiations for a larger deal will commence after July 9. The mini trade deal is expected to have average tariffs of 10%. Sources familiar with the matter provided this information. Further details are […]

Indian industry is prepared for any outcome regarding the proposed bilateral trade agreement with the United States, Confederation of Indian Industry (CII)said on Wednesday, emphasizing that the country’s business sector will not pursue deals that compromise national interests.

India has reserved its rights to impose retaliatory duties on the US concerning tariffs on auto parts, a procedural move under WTO safeguards. This action won’t impede ongoing negotiations for the proposed India-US trade pact, aiming to significantly increase bilateral trade.