Exporters attach the hopes for the ongoing negotiations on the bilateral trade agreement, to prevent India from mutual tariffs that the US plans to store from 2 April.
According to several industrial sources, Indian exporters hope that negotiations and promise cuts in American imports will help India escape the mutual tariffs that US President Donald Trump threatened to select imports for the US.
Most domestic exporters have also demonstrated support to reduce tariffs and zero for zero tariff strategy in bilateral discussions on business agreements. Within zero for zero tariff strategy, two countries identify specific products and become tariffs on them.
The confederation of the Indian textile industry (CITI) has recently suggested zero for an agreement on a zero tariff with the US in the sector of textiles and clothing.
According to sources, this is one of the problems that can be discussed on Thursday at a meeting of the Ministry of Commerce for Export Support Council. Business and industrial Minister Piyush Goyal, who recently returned from his way to Washington, will also participate in the meeting with the Board of Export support to discuss the bilateral trade agreement.
Sources indicated that this is a regular meeting of the Ministry of Commerce to review the questions faced by exporters and strategies to increase exports. According to sources, the government could also consider providing multiple incentives to exporters to help them tide in the current environment of global uncertainty in the middle of a potential tariff war.
During his American visit last week, Goyal met with the US Sales Representative (Ustr) Jamieson Greer and US Trade Minister Howard Lutnick to start discussions on the proposed bilateral trade agreement. India and the US have agreed to double the bilateral trade to $ 500 billion by 2030, and in the autumn of 2025 they negotiate the first phase of bilateral trade agreements.
While Goyal can visit the USA again, the Ministry of Trade is also in interviews with participating parties and across sectors to understand areas and products where India can offer lower tariffs under the trade agreement.
