With the ongoing interviews about the bilateral trade agreement, India hopes to remunerate from mutual tariffs to imports to be deposited by the US from 2 April.
Official interviews between India and the US on the proposed bilateral trade agreement were launched on Wednesday with higher officials from both countries who sat down at the table to start discussions on the outlines of the trade agreement, including time OS and conditions. Both countries hope to complete the first tranchi agreement by the autumn of 2025.
According to sources, India has already stated products on which it is willing to reduce tariffs. These include a number of US products, including cars such as EV, bikes and wine and alcohol, as well as certain agricultural products from the US.
Sources have said that India remains hope that the initial offer and ongoing negotiations will provide from the mutual tariffs that US President Donald Trump plans to save from next month.
A team of US officials led by US sales representative for South and Central Asia Brendan Lynch, along with a team of American government officials, visits India from 25 to 29 March.
“As Directed by the Leaders of the Two Countries, India Remains Committed to Working With the US Side in the Trade and Economic Domains to Enhance Prosperity and Innovation in Both and the Us and Deeply Chain Integration Between the Two Countries. Constructive discussions with the incoming US delegation to expand and deepen ur bilateral trade and economic ties in a mutually beneficial manner, ”The Minister of Commerce and Industry Had Said in a Statement AHEAD of the visit.
After visiting Prime Minister Narendra Modi in Washington DC, who met the US President, both countries agreed to work on BTA and deepened two -sided trade to $ 500 billion by 2030.
Emkay Global Financial Services reported that India could potentially lose about $ 6 billion (0.16% of GDP) in US exports (for 10% wide tariffs), increasing to approximately $ 31 billion to $ 25%.
“Although the nature of mutual implementation of tariffs is unclear, we believe that the most likely scenario is a wide tariff at the ground level, due to the complications around sectors/commodity tariffs,” he said. While India could be among the worst nations affected by the wide differences, the key sensitive branch of the car, pharmaceutics, electronics are much better than feared, while clothing and gems and jewelry are most exposed.
Total exports of India for us in FY24 amounted to $ 77.5 billion ($ 2.1%); The receptive industries contained in the identified message include about 1.1% of GDP.
