India
oi-Gaurav Sharma
India
and
the
United
States
are
pushing
to
lock
in
a
framework
trade
deal
before
the
end
of
the
year,
with
fresh
talks
in
New
Delhi
on
December
10
expected
to
speed
up
work
on
the
first
tranche
of
the
proposed
bilateral
trade
agreement,
according
to
officials
familiar
with
the
ongoing
discussions.
Commerce
Secretary
Rajesh
Agrawal
recently
stated
that
India
expects
this
early
framework
to
ease
tariff
barriers
hurting
Indian
exporters,
while
a
full
Bilateral
Trade
Agreement
will
take
longer
because
India
and
the
US
are
running
two
parallel
negotiation
tracks,
one
near
term
on
tariffs
and
another
on
a
wider,
long-term
pact.
India
and
the
United
States
are
aiming
to
finalize
a
framework
trade
deal
before
the
year’s
end,
with
discussions
in
New
Delhi
on
December
10
to
accelerate
work
on
the
proposed
agreement,
focusing
on
easing
tariff
barriers
that
affect
Indian
exporters,
and
aiming
to
increase
bilateral
trade
to
USD
500
billion
by
2030
from
the
current
USD
191
billion.
trade
deal
India
US
trade
agreement
talks
and
tariff
dispute
The
December
10
meetings
in
New
Delhi
are
not
labelled
as
a
formal
negotiating
round,
yet
officials
expect
both
sides
to
focus
on
the
specific
elements
needed
to
move
the
India
US
trade
agreement
towards
closure,
especially
after
Washington
imposed
a
25
per
cent
tariff
and
a
further
25
per
cent
punitive
duty
on
several
Indian
exports
linked
to
India’s
purchase
of
Russian
crude.
The
visiting
US
team
will
be
led
by
Deputy
United
States
Trade
Representative
Rick
Switzer,
marking
the
second
visit
by
senior
US
trade
officials
since
these
higher
duties
were
announced,
while
the
broader
negotiation
process
is
being
steered
by
Assistant
USTR
for
South
and
Central
Asia
Brendan
Lynch
and
Joint
Secretary
Darpan
Jain
from
India’s
Commerce
Department.
India
US
trade
agreement
timeline
and
negotiation
targets
The
latest
engagement
comes
after
months
of
regular
contact,
as
US
negotiators
were
last
in
India
on
September
16
and
Commerce
and
Industry
Minister
Piyush
Goyal
travelled
to
Washington
twice
this
year,
in
May
and
again
on
September
22,
while
both
governments
have
instructed
officials
to
complete
the
first
tranche
of
the
India
US
trade
agreement
by
fall
2025
after
already
holding
six
negotiation
rounds.
| Aspect | Detail |
|---|---|
|
Current bilateral trade |
USD 191 billion |
|
Target bilateral trade by 2030 |
USD 500 billion |
|
Negotiation rounds completed |
6 |
|
Deadline for first tranche |
Fall 2025 |
Beyond
the
near-term
tariff
package,
both
capitals
are
working
towards
a
broader
vision
that
aims
to
more
than
double
bilateral
trade
to
USD
500
billion
by
2030
from
the
current
USD
191
billion,
with
the
gradual
reduction
of
trade
barriers
seen
as
central
to
giving
exporters
on
both
sides
clearer
rules
and
greater
predictability.
