Indian trade-talk team from the Ministry of Commerce has reached the United States and for the next phase of the bilateral trade deal between India and the United States. According to a PTI report, the talks between Indian and US officials are expected to begin on Monday.
The Indian team will be in the United States for the next four days as the two countries try to lock a trade deal before the August 1 deadline. India’s chief negotiator, Rajesh Aggarwal, Secretary of the Department of Commerce, will join the team on Wednesday.
This is the second visit of the Indian trade team to Washington within a period of a month. Earlier, the team was in the United States from June 26 to July 2. The India team planned the second visit to Washington on July 10-11, after the extension of the July 9 deadline.
India-US trade talk: What’s on the agenda?
The negotiating teams of India and the United States are trying to reach an interim bilateral trade agreement before the first tranche of the proposed bilateral trade agreement in September- October.
”We are not differentiating between an interim or the first phase of the bilateral trade agreement. We are negotiating a complete deal. Whatever will be finished, we can package it as an interim deal and for the rest, talks will continue”, a trade official, quoted by PTI, said last week.
Negotiation on farm and dairy products, automobiles, and steel remains the key issue to be resolved in the further negotiations. As per the report, India has further strengthened its position on the farm and dairy products. The United States is seeking a duty concession on dairy products, which India hasn’t provided to other trading partners like the European Union and the United Kingdom.
Besides agri products, the United States is looking for low duties on automobiles, particularly Electric Vehicles, petrochemical products, and wines as well. Similarly, India is also looking for low duty on labour-intensive products like gems, textiles, garments, and jewellery.