Government representatives told a parliamentary panel that the US has not officially conveyed to India that it should cut tariffs by April 2.
India's proposal to impose retaliatory import duty on certain US products in response to American tariffs on steel and aluminium could cast a shadow over ongoing negotiations for a trade agreement between the two countries, think tank GTRI said on Tuesday. The Global Trade Research Initiative (GTRI) said that if the US engages in consultations with India on the matter or withdraws tariffs, a resolution may be reached.
India and the US are likely to agree on an interim trade agreement before July 8 with New Delhi pushing for full exemption from the 26 per cent reciprocal tariff on domestic goods, an official said. The US on April 2 imposed an additional 26 per cent reciprocal tariff on Indian goods but suspended it for 90 days till July 9.
'And America will invite India in to have really an extraordinary opportunity and relationship with us.'
US Vice President JD Vance and his wife Usha, the first Indian-American Second Lady, are set to visit India early next week. Vance will hold talks with Prime Minister Narendra Modi during his visit. The visit comes amid global concerns over President Donald Trump's policy on tariffs. Vance's visit is likely to be more of a private trip though it will have official components.
'The US has agreed to negotiate with us a mutually beneficial bilateral trade agreement, which will go for reduction of tariffs on both sides so that our trade can grow.'
'As negotiations continue, the path forward demands not only diplomatic skill, but also vigilance against legal asymmetries embedded in America's trade playbook.'
US Vice President J D Vance and National Security Adviser Michael Waltz are scheduled to visit India on April 21, reflecting Washington's focus on strengthening its relationship with India amidst global concerns over President Donald Trump's tariff policy. Vance's visit is likely to be more of a private trip, while Waltz's visit will be a business trip with discussions on security in the Indo-Pacific region, high technology, critical minerals, and export controls. Both are expected to meet Prime Minister Narendra Modi before his trip to Saudi Arabia. The visits come in the wake of Trump's recent pause on tariffs on all countries except China, following widespread economic concerns.
The Indian industry is paranoid about the USA's plan to impose reciprocal tariffs and wants early conclusion of a bilateral trade agreement, sources said on Wednesday. They said that the talks for the proposed bilateral trade agreement are going well.
Brendan Lynch, the assistant US trade representative for South and Central Asia, will pay a five-day visit to India beginning Tuesday, days before US President Donald Trump's tit-for-tat tariff kicks in. The senior US trade official is expected to hold talks with Commerce Minister Piyush Goyal besides meeting a number of senior Indian officials.
"India and everybody would think of them as an ally. I can say the same for others. But this is a group of wonderful nations that is countering other countries that look to hurt us on trade," he added.
In 2023, the share of US electronics imports from India was a mere 1.9 per cent of the $520 billion they imported, while the total Indian electronics exports to the US was pegged at only $10 billion.
Senior officials of India and the US will begin three-day talks on the proposed bilateral trade agreement in New Delhi on Wednesday amid threats of reciprocal tariffs from the Trump-administration, an official said. To formally start the negotiations on the pact, Assistant US Trade Representative for South and Central Asia Brendan Lynch, along with a team of officials, is in New Delhi.
Starlink's application for offering satcom services in India had been held up for the company's inability to comply with mandatory ownership disclosure norms.
The "construct of the DPDP Act" cannot be changed at this stage, though there may be some minor tweaks in the language of the Rules and formats in certain legitimate cases.
From the 30-share blue-chip pack, Adani Ports dropped over 4 per cent. UltraTech Cement, Sun Pharma, IndusInd Bank, NTPC and Tata Steel were also the among the laggards. Nestle, ICICI Bank, Infosys, Tata Consultancy Services and HCL Tech were among the gainers.
India and the US will sit together in the next couple of weeks to decide on the nature of the proposed trade agreement and finalise its broad contours, a senior official said on Monday. During the recent visit of Prime Minister Narendra Modi to Washington, India and the US announced to more than double the two-way commerce to $500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multi-sector bilateral trade agreement (BTA) by fall of 2025.
I'...additional concessions, such as opening government procurement, reducing agricultural subsidies, weakening patent protections, and allowing unrestricted data flows -- demands India has resisted for decades.'
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
'The touchstone is reciprocity which will be applied to friends and foes alike.' 'It will be a bitter pill to swallow.'
Ruchi Soya Industries on Tuesday announced the acquisition of biscuits business from Patanjali Natural Biscuits Pvt Ltd (PNBPL) in a slump sale at Rs 60.02 crore.
The army, air force and navy will all benefit from the defence ministry's approval of 'Make in India' equipment.
Modric beats Djokovic to win Balkan athlete of year
India's tennis ace Leander Paes has been elected as one of the seven vice-presidents of Bengal Tennis Association (BTA). The Kolkata ace, who now lives in Mumbai, was not present at the Annual General Meeting on Saturday but has accepted the new role, which was offered to him sometime back.
Serbia's World No 1 tennis player Novak Djokovic has been named Balkan Athlete of the Year, the Bulgarian state news agency (BTA) said on Tuesday.
India on Friday asked the United States to move ahead with an agreement which would exempt professionals from payment of security taxes to mitigate the impact of a visa fee hike last year.
Top HAL sources say the AMCA, which is being developed as the IAF's next-generation stealth fighter, is slated to be assembled at HAL Nashik.
World triathlon champion Tim Don has been given a three-month ban for missing three drugs tests and faces a lifetime ban from the Olympics.
An IAF "request for information" floated on the MoD website invites Indian companies to submit preliminary bids to supply the IAF with 106 PC-7 Mk II trainers. Ajai Shukla reports
Fresh from winning the Chennai leg, Yuki Bhambri advanced to the second round, even as the other two Indians Saketh Myneni and Vishnu Vardhan made quiet exits in the $50,000 ATP Challenger at BTA Courts in Kolkata.
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