US commerce secretary to meet Piyush Goyal today amid deal buzz

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Published: October 3, 2019 3:27:36 AM

Differences over American demands that India scrap or sharply cut duties on seven ICT products – including high-end cell phones and smart watches —, remove price caps on medical devices like stents and offer greater market access in agriculture and dairy, among others, are learnt to have delayed the trade deal.

US commerce secretary, Wilbur Ross, Piyush Goyal, Nirmala Sitharaman, ICT products, Narendra Modi, Donald Trump, American demandsRoss is also expected to meet finance minister Nirmala Sitharaman separately.

US commerce secretary Wilbur Ross will meet commerce and industry minister Piyush Goyal here on Thursday, a source told FE, amid growing expectations that the two sides would soon firm up a “limited deal” after months of negotiations. Ross is also expected to meet finance minister Nirmala Sitharaman separately.

Differences over American demands that India scrap or sharply cut duties on seven ICT products – including high-end cell phones and smart watches —, remove price caps on medical devices like stents and offer greater market access in agriculture and dairy, among others, are learnt to have delayed the trade deal. The “limited deal” was expected to be announced after Prime Minister Narendra Modi’s meeting with US President Donald Trump in New York on September 24. Ross’ visit to New Delhi is expected to help narrow the differences.

Also read: RCEP trade ministers to meet in Bangkok on October 10-12

While the US has been seeking greater concessions from India, it is reluctant to respond commensurately with its offers and address India’s concerns. Instead, it is still using the issue of its trade deficit with India to extract more from New Delhi, a source had told FE last week.

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