Amid ongoing tensions over commerce, Commerce and Business Minister Piyush Goyal stated on Thursday that the US ought to signal the free commerce settlement with India on the “dotted traces” if the Donald Trump administration is happy with New Delhi’s proposals. He was responding to feedback made by US Commerce Consultant Jamieson Greer in Washington, who described India’s provide because the “greatest ever” obtained by america.
He welcomed that evaluation however declined to reveal the contours of India’s provide. He additionally kept away from setting any timeline for the conclusion of the long-discussed free commerce settlement between the 2 nations. “His happiness could be very a lot welcome. And, I do consider that if they’re very joyful, they need to be signing on the dotted traces,” Goyal stated.
The minister’s feedback got here as India and america concluded two days of commerce discussions in New Delhi. In keeping with commerce ministry sources cited by PTI, each side reviewed progress on the bilateral commerce settlement and exchanged views on market entry, regulatory points and funding frameworks.
He stated that 5 rounds of negotiations have taken place to date and emphasised that the continued go to of US Deputy Commerce Consultant Rick Switzer is just not centred round negotiations. Switzer’s journey, the primary since taking workplace three months in the past, is meant to construct familiarity and strengthen working relationships, Goyal added, describing his talks with the visiting official as “substantial”.
TWO-DAY TRADE TALKS WRAP UP IN DELHI
Because the discussions concluded in New Delhi, the officers stated the discussions had been “purposeful and optimistic” and the momentum mirrored each governments’ intent to slender variations which have slowed the negotiations in recent times. The high-level US delegation led by Switzer met Goyal, Commerce Secretary Rajesh Agrawal and senior officers throughout a number of ministries. Indian officers stated the go to helped reinforce political route from leaders to speed up talks.
India and the US are at the moment working to finish the primary tranche of the commerce settlement following directions from their leaders earlier this 12 months. Six negotiation rounds have been held to date. The preliminary package deal is anticipated to deal with tariff rationalisation, entry for providers, digital commerce and a handful of long-standing irritants which have formed India–US business ties.
PM MODI, TRUMP DISCUSS TRADE AND STRATEGIC TIES
As strains over tariffs proceed between the 2 international locations, Prime Minister Narendra Modi and US President Donald Trump held a telephone dialog on Thursday. The 2 leaders reviewed the standing of the Complete International Strategic Partnership and mentioned areas of convergence in commerce and regional cooperation.
Sharing an replace of the decision, PM Modi wrote on X: “Had a really heat and fascinating dialog with President Trump. We reviewed the progress in our bilateral relations and mentioned regional and worldwide developments.”
He added that India and the US “will proceed to work collectively for international peace, stability and prosperity”.
The commerce deal carries excessive stakes for each international locations. Officers anticipate it to assist raise bilateral commerce to USD 500 billion by 2030 — greater than double the present USD 191 billion. The US is India’s largest buying and selling associate, a place it has held for 4 consecutive years, with two-way commerce in 2024–25 touching USD 131.84 billion. Of that, India accounted for USD 86.5 billion in exports.
– Ends
With inputs from businesses
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