Trade talks wrap up: India seeks tariff relief from US
India and the US wrapped up face-to-face trade talks with positive outcomes. India may secure exemptions from the US’s April 2 retaliatory tariffs. Talks lasted four days and extended by a day, signaling progress. Both sides agreed to negotiate a bilateral trade agreement (BTA).
The commerce ministry confirmed discussions on market access and tariff reductions. Sectoral experts will start virtual talks soon, paving the way for in-person negotiations. Officials saw key positive signs: extended talks, virtual follow-ups, and India’s unique approach compared to other nations facing US tariffs.
President Trump praised Prime Minister Modi, calling him a “very smart man” and a “great friend.” He expressed confidence in resolving tariff issues. The US team, led by trade representative Brendan Lynch, engaged with Indian officials in a cooperative atmosphere. Both sides aim to finalize the BTA by September.
India and the US reaffirmed their commitment to collaboration. They seek a trade deal promoting prosperity, resilience, and mutual benefit. Leaders aim to boost bilateral trade from $200 billion to $500 billion by 2030.
Federation of Indian Export Organisations director general Ajay Sahai welcomed the talks. He highlighted increased market access, reduced barriers, and deeper supply chain integration. He expressed hope for a waiver from reciprocal tariffs.
The commerce ministry confirmed progress toward a multi-sector BTA. Both nations discussed expanding cooperation in key areas like market access and supply chains. Talks followed Union Commerce Minister Piyush Goyal’s Washington visit in March. Several virtual meetings followed.
With Trump’s tariff deadline approaching, India’s approach stands out. Unlike China, Mexico, and Canada, India pursues collaboration over confrontation. This progress strengthens India-US trade ties and sets the stage for a landmark agreement.
