It has been decided to "intensify efforts" to achieve early conclusion of a mutually beneficial trade agreement between India and the US : Govt of India
PM Narendra Modi has called the US and India “natural partners” and that both sides would “work together to secure a brighter, more prosperous future”.
A team of officials led by Commerce Minister Piyush Goyal is expected to visit Washington soon to resume negotiations for a trade deal.
The talks were delayed and almost derailed after US president Donald Trump imposed a total 50 per cent tariff taxes on India. But things seemed to have improved after the birthday wishes tele chat between Trump and Narendra Modi.
The 'general improvement' is also a coincident after the US team, led by Assistant US Trade Representative for South and Central Asia, Brendan Lynch, visited New Delhi earlier this week.
Talks will also be carried on at the political level by External Affairs Minister Dr S Jaishankar and US Secretary of State Marco Rubio when they meet on the sidelines of the UNGA next week.
Prime Minister Modi is giving UNGA this year a miss.
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| Piyush Goyal |
Randhir Jaiswal, spokesperson for the Ministry of External Affairs, said, “A team from United States Trade Representative, led by Assistant USTR Brendan Lynch, had meetings at the Ministry of Commerce on September 16 to take forward the ongoing negotiations for a trade deal with the US.
The discussions were positive and forward looking covering various aspects of the trade deal. It was decided to intensify efforts to achieve early conclusion of a mutually beneficial trade agreement.”
Incidentally, on September 16, the day the trade talks were held in New Delhi, President Donald Trump telephoned Prime Minister Narendra Modi to wish him on his 75th birthday the next day.
The Prime Minister said - he is “fully committed” to taking the Indo-US partnership to “new heights”.
On Thursday, Chief Economic Adviser V Anantha Nageswaran said that additional US tariffs of 25 per cent on India levied over the purchase of Russian oil would not continue beyond November 30.
Signs of easing trade tensions began emerging earlier this month when Trump said India and US were “continuing negotiations to address the trade barriers”, and he was “certain” there would be “no difficulty” in the talks being successful.
Commerce Minister Piyush Goyal said in Patna on Sept 11 that -- the Indo-US trade talks progressing well and 'first breakthrough' may come in November 2025.
ends
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