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India US Trade Deal- A US delegation has come to India to negotiate a trade agreement. Yesterday America had said that India has given the best offer for the deal so far. Today India’s Chief Economic Advisor V. Anantha Nageswaran also claimed that the agreement will be reached soon.
New Delhi. There may soon be a trade agreement between India and America. India’s Chief Economic Advisor (CEA) V. Anantha Nageswaran has said that both the countries have resolved most of the trade related issues and he would be surprised if no agreement is reached by March. In an interview given to Bloomberg TV, Nageswaran said that he is confident that a trade deal between India and America will be done by March 2026. It is worth noting that just yesterday, US Trade Representative (USTR) Jameson Greer had said that India has given America the best offer for a trade agreement than any other country so far. Currently, a high-level US delegation led by Deputy Trade Representative Rick Switzer has come to India and is negotiating a trade agreement with the Indian side. India is being led in this dialogue by Joint Secretary Darpan Jain.
This visit of the American delegation is considered important, because both the countries are working towards finalizing the first phase of the agreement. India and America are currently discussing two issues. One of which focuses on the framework agreement related to duty and the other on the comprehensive trade agreement. This is the second major visit of US officials to India, especially after US President Donald Trump imposed 25% additional duty on Indian goods for purchasing crude oil from Russia.
Greer had praised India
US Trade Representative Greer told a Senate subcommittee meeting in Washington DC yesterday that India is still raising “objections” regarding some crops, but New Delhi’s latest proposal is unusually open. Praising India, he said that India’s stance during the talks has been “very forward” and New Delhi has made “the best offer we have ever made as a country”.
Why India-US trade deal has not been finalized yet?
India does not want to open its agriculture and dairy sector to America. The livelihood of crores of people in India depends on milk production. If America’s cheap milk and cheese is dumped in India, the business of Indian cattle farmers will be ruined. Apart from this, India is not in favor of allowing genetically modified food for human consumption.
