MOS Trading in Rajya Sabha: India continues to deal with the United States to achieve the promotion and expansion of bilateral trade relations

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Sorrabi

With the continued three -day talks between India and the United States continuing in a bilateral trade agreement, the Minister of State for Trade and Industry Parliament had reported that the government of India continues to communicate with the United States government to achieve strengthening and expanding bilateral trade relations in a useful and fair manner.

In response to an unspecified question in Rajia Sebha on Friday, he said that the impact of additional duties on steel and aluminum imports by the United States is still evaluated.

He said: “The impact of these duties, which constitute an enhancement on additional duties, is evaluated closely due to the lack of exemptions compared to exemptions earlier for some major countries exporting in this sector.”

Brasad also indicated that the joint statement on February 13, 2025, after Prime Minister Narendra Modi’s visit to the United States, has again confirmed both countries, as their commitment to deepening economic relations and dual trade in India was reaffirmed to $ 500 billion by 2030.

The minister said: “Both countries have been committed to negotiating a multi -sectarian trade agreement, which is mutual, according to which the two countries focus on increasing access to markets, reducing definition barriers and non -fire barriers, and enhancing the integration of supply chain and resolving major commercial issues at the bilateral level.”

On Friday, India and the United States have continued discussions on the features of the Bilateral Trade Agreement and are expected to continue the Berliz until late in the evening. Before the mutual definitions announced by the United States as of April 2, India is keen to finish the features of the commercial agreement and is ready to reduce duties on many elements including cars, bikes, borbon whiskey and medical devices as well as agricultural products such as nuts and gastache. However, it is understood that the United States is keen to reach its agricultural products.

The sources indicated that at the present time, the goal of the talks is to discuss the definitions and the vast areas where it can be reduced with the ultimate goal of obtaining the first batch of the trade agreement in the coming months. “It will be almost impossible to put the finishing touches on commercial negotiation at the present time. Both countries will have to take inputs from the stakeholders involved in the proposed giving,” a person familiar with the development.

They pointed out that India in recent months has already proven that it is ready to reduce the customs tariff and reduce the definitions of many American goods in the budget and then as well.

There was no official statement from India and the United States on the state of negotiations at the present time. However, the Minister of Trade and Industry, Jewish Joyal, said on Thursday that the ongoing trade negotiations with the United States are moving positively and “progressing well”.

A team of US officials from the United States, led by the Assistant Trade Representative in South and Central Asia Brendan Lynch, along with a team of US government officials, is visiting India from 25 to 29 March.

A report issued by Barclays estimated that about $ 22 billion from India’s exports or 30 % of exports to the United States and 5 % of total goods exports are at risk. “Given close commercial relations, we expect India to adopt a reconciliation tone on a selected tariff and also to address some non -carrier barriers,” said Astron Godwani, chief economist in India in Barclays.