Chief negotiators from India and the US are set to begin three-day talks in Washington to recalibrate the bilateral trade agreement (BTA) framework, following significant changes in the US tariff landscape, including a new 10 per cent tariff imposed on all countries.
Indian tennis icon Leander Paes has joined the Bharatiya Janata Party (BJP), marking a significant transition from his celebrated sports career to the political arena, ahead of assembly elections in West Bengal.
Paes had joined the Trinamool Congress in 2021 and campaigned for the party during the Goa elections in 2022.
India and the United States are committed to finalising an interim trade agreement, despite recent challenges including the US imposing a blanket 10 per cent surcharge and India's decision to wait for a new global tariff architecture. The US Trade Representative's annual report highlights India's maintained high import tariffs and various non-tariff barriers across several sectors.
Piyush Goyal on Friday rejected reports suggesting that India is planning to hold off trade deal with the United States for several months.
'India's farmers will be unable to compete with the US, given the subsidies that the latter provides its farmers.'
'The contours of the trade deal need to be reworked now.'
President Trump is celebrating the US-India trade deal as a landmark achievement, with a major focus on boosting American coal exports to India and other trade partners.
The verdict marks a notable shift from a series of recent wins for Trump at the Supreme Court.
The agreement addresses non-tariff barriers and promotes increased trade in technology products and cooperation between the two countries.
The ruling is expected to have wide-ranging consequences for global trade, businesses, consumers, inflation trends and household finances across the country.
Greer said that India has taken down some digital services taxes and is moving tariffs down.
David Perdue said in a post on X that the US-India relationship delivers real results through close cooperation in diverse areas, including defence, energy and through Quad engagement.
The turning point came with the appointment of Sergio Gor as the US ambassador to India.
Talks on the proposed trade deal between India and the United States will resume after the year-end holidays, coinciding with Sergio Gor -- a close aide of American President Donald Trump -- taking charge as the US Ambassador to India in early January, according to a person privy to the development.
The proposed trade deal with the 27-nation European Union (EU) is expected to provide zero-duty access to the $95 billion European market for Indian textile and apparel manufacturers. Currently, India's share of the European market is just 6 per cent, or $5.5 billion.
'When negotiators meet next, they may like to bring new issues to the table.'
India and the US are expected to sign the first phase of a bilateral trade agreement by mid-March, which will result in the US lowering import duties on Indian goods. India will then begin reducing import duties on certain US goods.
India and the US are expected to sign the first phase of a bilateral trade agreement by mid-March, which will result in the US lowering import duties on Indian goods. India will then begin reducing import duties on certain US goods.
The Indian government informed Parliament that India and the US are engaged in negotiations for a mutually beneficial multi-sectoral bilateral trade agreement. The two countries also cooperate on strategic, economic, and defense matters, managing divergences through high-level dialogues.
Indian tennis legend Leander Paes on Saturday formally took charge as president of the Bengal Tennis Association, succeeding Hironmoy Chatterjee after the body's Annual General Meeting.
India's exports to the US contracted 8.6 per cent to $6.3 billion in October, while imports rose 13.9 per cent to $4.5 billion leading to a trade surplus of $1.8 billion during the month.
'...but I would not like to put a timeline to it'
The first phase of the proposed India-US bilateral trade agreement (BTA) is 'nearing closure' and would address the hefty 50 per cent tariffs imposed by the Trump administration on Indian goods, in addition to resolving America's market access issues, a government official said on Monday.
Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal on Thursday said he is not concerned about the rupee at all, arguing that even China and Japan witnessed exchange rate weaknesses during their high growth phases.
'There are very few issues and a political call needs to be taken about some of them.'
The rupee plunged 38 paise to close at an all-time low of 90.32 against the US dollar on Thursday amid uncertainty over the India-US trade deal. Forex traders said the rupee is expected to trade with a negative bias as the delay in the trade deal between India and the US may continue to dent investor confidence.
India's manufacturing sector activity eased to a nine-month low in November, mainly owing to softer rise in sales and production amid reports of challenging market conditions, a monthly report said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) falling to 56.6 in November from 59.2 in October, highlighted the slowest improvement in operating conditions since February.
The rupee plunged 26 paise to an all-time low of 90.75 against the US dollar in intra-day trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
In a first, Indian oil public sector undertakings (PSUs) finalised a one-year contract to import around 2.2 million tonnes (mt) of liquefied petroleum gas (LPG) from the US. The LPG import deal comes at a time when negotiations for an India-US bilateral trade agreement (BTA) are gathering steam. Earlier in the month, US President Donald Trump had said Washington and New Delhi were "pretty close" to reaching a fair trade deal.
India is hopeful of resuming negotiations on the proposed bilateral trade agreement (BTA) with the US soon and addressing the issue of high tariffs imposed by Washington on Indian goods will be key to striking the deal, a government official said on Thursday.
India's decision to import LPG from the US helps it to diversify sources as it reduces almost full reliance on West Asian countries for supply of the country's primary cooking fuel.
An Indian commerce ministry team has reached Washington for another round of talks from Monday on the proposed bilateral trade agreement (BTA), an official said. Chief negotiator of India and special secretary in the Department of Commerce, Rajesh Agrawal, will join the team on Wednesday.
'As far as the contentious issues such as agriculture are concerned, we are finding some common ground.'
Deferment or rescheduling of the meeting assumes significance as the US has announced a staggering 50 per cent duty on Indian goods.
India has implemented a number of free trade agreements with developed nations and is in active dialogue for such pacts with nations including the US, Oman, and the EU, Commerce and Industry Minister Piyush Goyal said. India has implemented trade pacts with Australia, the UAE and EFTA bloc. It has also signed an agreement with the UK.
Commerce and Industry Minister Piyush Goyal on Tuesday expressed hope that India will conclude the proposed bilateral trade agreement (BTA) with the US by the fall or November this year. He said that "a little bit" of geopolitical issues overtook the trade matters in the negotiations for the pact between the two countries.
With the India-US trade talks moving in the right direction, Commerce and Industry Minister Piyush Goyal is expected to visit Washington soon, sources said.
India does not do trade agreements in a hurry or with a "gun to our head", Commerce and Industry Minister Piyush Goyal said on Friday. He said India is actively negotiating trade pacts with countries and regions, including the European Union (EU) and the US.
The Indian team has returned from the US after holding trade talks with their American counterparts in New York, an official said on Thursday. Commerce and Industry Minister Piyush Goyal, who led the team, will be back on Friday.
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