The much stoked 3-day round of talks between India and the US focused on finalising the terms for the execution of the first phase of Bilateral Trade Agreement (BTA) recently concluded on April 23.
As per a statement issued by the Ministry of Commerce and Industry, both sides engaged in meaningful discussion on topics around market access, non-tariff measures, technical barriers to trade, customs and trade facilitation and investment promotion.
India’s delegation to Washington consisted of 12 government officials and was led by Darpan Jain, Additional Secretary in the Department of Commerce.
The recently concluded talks mark one of the first official engagements between Delhi and Washington on finalising the trade deal, following a US supreme court ruling earlier this year that dismantled Trump’s non-uniform tariffs.
Following the Supreme Court ruling, Donald Trump had imposed uniform 10% tariffs against all countries that the US engaged with on trade. As per Indian officials interviewed by PTI, this move essentially took away India;’s comparative tariff advantage
As per officials interviewed by PTI, when the initial details of a trade deal between India and US was first agreed in February. A key benefit for India was that its tariffs had been substantially lowered from 50% to give a comparative advantage against countries like Vietnam and Bangladesh that had higher tariffs.
With the whole tariff gap race now concluded, the previously agreed upon framework for a trade deal between India and USA is expected to undergo a major revision.
Ministry of commerce on recent talks between India and US
“The meetings were conducted in a constructive and positive spirit, with meaningful and forward-looking discussions enabling progress on key matters. Both sides agreed to remain engaged to maintain this momentum as they move forward,” the ministry said in its latest statement.
Unlike traditional trade parleys focused solely on duty drawdowns, this round delved deep into the new economy friction points as both sides also focused on improving their economic security alignment and digital trade.
As per analysts interviewed by PTI, the focus of the recently concluded talks on areas like digital trade and economic security marks a strategic pivot toward securing supply chains and aligning digital governance frameworks, a move seen as essential for “de-risking” from common geopolitical adversaries.