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.
The US on Monday decided to delay imposing its "Liberation Day" reciprocal tariffs until August 1, allowing more time to iron out issues between New Delhi and Washington before finalising an interim trade deal. On April 2, US President Donald Trump announced reciprocal tariffs against a number of countries including India (26 per cent), but paused the implementation of these duties for 90 days, giving all trading partners the deadline till July 9 to reach a deal.
US President Donald Trump has announced a 25 per cent plus tariff on India from Aug 1. Trump, describing India as a "friend", said the US has done relatively "little business" with the country because of its high tariffs.
A group in Varanasi organized an 'India-Russia Friendship March' to welcome Russian President Vladimir Putin ahead of his visit to India for the annual summit with Prime Minister Narendra Modi. The march highlighted the strong ties between the two nations and expressed hope for strengthened cooperation and global peace.
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.
'No one can or will bar India from pursuing its energy goals as it wishes.' 'The US FTA wording may sound more restrictive, but the underlying reality will not undermine India's sovereign energy decisions.'
High US tariffs are expected to affect close to 8 per cent of India's overall auto component production, ratings firm Icra said on Wednesday. Indian auto component exporters are at a relative disadvantage compared to most other Asian exporting nations, highlighting the importance of concluding an India-US bilateral trade agreement, it added.
The US remained India's largest trading partner for the fourth consecutive year in 2024-25 with bilateral trade valued at $131.84 billion, while the country's trade deficit with China widened to $99.2 billion during the same period, government data showed. In the last fiscal, India's exports to China contracted 14.5 per cent to $14.25 billion as against $16.66 billion in 2023-24. The imports, however, rose by 11.52 per cent in 2024-25 to $113.45 billion against $101.73 billion in 2023-24.
India and Russia are poised to sign multiple agreements to bolster cooperation in various sectors, including trade and healthcare, during Russian President Vladimir Putin's visit to New Delhi. Discussions will also address the Ukraine conflict and efforts to increase Indian exports to Russia.
Trump's outburst comes amid escalating tensions between the US and its northern neighbour, following recent remarks by Canadian Prime Minister Mark Carney at the World Economic Forum (WEF) in Davos.
From labelling India the 'Tariff King' to slapping sweeping import duties, US President Donald Trump has steadily hardened his trade stance on India. These announcements are being seen as a pressure tactic to get New Delhi to agree to demands made by the US in the proposed Bilateral Trade Agreement (BTA).
'We have got Brexit done and we can now take full advantage of the fantastic opportunities available to us as an independent trading nation, striking trade deals with other partners around the world,' Downing Street said in a statement.
India has agreed to allow import of pork and pork products from the US as a part of a bilateral trade deal which will facilitate export of Indian mangoes and pomegranate to the US. The development comes months after the two governments renewed the India US Trade Policy Forum (TPF), after which both nations agreed to iron out thorny issues that included market access issues pertaining to the agriculture sector.
United States President Donald Trump on Wednesday (local time) hinted at reaching a new trade deal with India soon.
Prime Minister Narendra Modi emphasized the strong partnership between India and the UK, highlighting its importance for global stability and economic progress amidst global uncertainty. Discussions covered trade, defense cooperation, and geopolitical issues.
Ahead of trade talks between Indian and United States officials in Delhi, White House trade advisor Peter Navarro said India, which has the 'highest tariffs' of any major country, is 'coming to the table'.
Of Trump's reciprocal tariffs and trade deals
The statement did not name any country. But the US has often blamed India and China for purchasing Russian oil even when there are no tariffs on Beijing for it.
To open gates to Free Trade Agreement between two countries in next 5yrs
The government on Wednesday approved two schemes worth Rs 45,000 crore to help exporters tide over the impact of high tariffs imposed by the US on Indian shipments.
External Affairs Minister S Jaishankar on Monday met United States Secretary of State Marco Rubio for bilateral discussions, as the high-level 80th session of the United Nations General Assembly (UNGA) kicks in.
The impact of United States President Donald Trump's reciprocal tariffs is not yet known and New Delhi's strategy to deal with the situation is to firm up a bilateral trade pact with Washington, DC by fall of this year, External Affairs Minister S Jaishankar said on Wednesday.
'The BNP's election manifesto lists grievances against India, mirroring the attitude of past BNP governments.' 'Political parties have been careful not to say bad things about China.'
The US is expected to push for sweeping changes in India's policies, ranging from tariff reductions to regulatory overhauls, that could benefit American firms and exporters, under the proposed bilateral trade agreement with India, think tank GTRI said on Sunday.
United States President Donald Trump said a 'very big' trade deal is on cards with India, hinting at significant progress in the negotiation process of a long-awaited bilateral trade agreement between the two countries.
While India's High Commissioner Bisaria is in Islamabad, his Pakistani counterpart Moin-ul-Haq is yet to take charge in New Delhi.
India and the US have finalised the terms of reference outlining the roadmap for negotiations of the proposed Bilateral Trade Agreement (BTA), according to a statement issued by the US. US Trade Representative (USTR) Jamieson Greer said that these ongoing talks will help achieve balance and reciprocity by opening new markets for American goods and addressing unfair practices that harm US workers.
This will be the first face-to-face meeting between Rubio and Jaishankar following President Donald Trump's imposition of an additional 25 per cent tariff on India for Delhi's purchases of Russian oil, taking the total levies imposed on India by the Trump White House to 50 per cent.
'After the Galwan clash, the rules of engagement changed with the army commanders allowed to use any means at their disposal as they deem fit for tactical operations.'
Prime Minister Narendra Modi strongly supported efforts to end the war in Ukraine and conveyed to Russian President Vladimir Putin that India will stand shoulder-to-shoulder in all peace efforts to find an amicable solution to the conflict.
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.
Stock markets will be driven by RBI's interest rate decision, tariff-related developments, global trends and trading activity of foreign investors in this holiday-shortened week, analysts said.
Ahead of the visit, officials from key government departments held intense discussions to identify key trade-related proposals.
Amid the ongoing global tariff war, Commerce and Industry Minister Piyush Goyal on Wednesday asked exporters not to panic and assured them that India is working on the "right mix and right balance" in its proposed trade agreement with the US.
Former World Bank Chief Economist Kaushik Basu on Thursday said the US economic policy towards India has taken an unfortunate turn, noting that President Donald Trump's harsh stance against New Delhi appears baffling. US President Donald Trump on Wednesday announced a 25 per cent tariff on Indian goods from August 1, amid signs of a stalemate in the ongoing bilateral trade negotiations between the two countries.
US President Donald Trump announced a deal with Pakistan to develop its oil reserves, suggesting Pakistan might sell oil to India in the future.
The agreement was to disengage from remaining standoff sites along the Line of Actual Control (LAC), two days before a meeting between Chinese President Xi Jinping and Prime Minister Narendra Modi on the sidelines of the BRICS Summit.
India and Russia have solidified a five-year plan to enhance their economic and trade partnership, while also addressing the ongoing conflict in Ukraine and the threat of terrorism.
India will restrict crude oil purchases from Russia as part of an agreement reached with the US in exchange for lower trade tariffs, sources said, adding imports will continue for now by refiners such as Nayara Energy, which have no other alternative source. US President Donald Trump announced overnight that the United States will cut the reciprocal tariff on imports of Indian goods to 18 per cent from 25 per cent under a broader bilateral understanding.
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