India-US trade deal 99% finalised, says Sergio Gor
The US Ambassador to India shared that negotiations between India and the US have been underway for nearly one-and-a-half years.
The US Ambassador to India shared that negotiations between India and the US have been underway for nearly one-and-a-half years.
The broader India-US trade agreement will be signed in a phased manner, and negotiations for the second phase of the pact will continue after the signing of the first tranche of the deal.
The June 1-4 visit is expected to focus heavily on finalizing the contours of an interim trade arrangement while simultaneously advancing broader negotiations on market access, customs cooperation, investment facilitation and economic security alignment between the two strategic partners.
Discussion between Marco Rubio and Ajit Doval focused on defence, security and strategic technology related cooperation including the TRUST initiative.
Marco Rubio's maiden trip to India comes after Donald Trump administration's trade and tariff policies.
"We are trying to work out what would be the mechanism by which India can get preferential market access in the US market compared to our competitors," Goyal told reporters.
Union Commerce and Industry Minister Piyush Goyal said India is in a “very strong position” compared to other emerging economies.
Commerce Secretary Rajesh Agarwal informed that the deal was to be signed in March but the signing will now take place once the United States finalises a new architecture of global tariffs.
Describing it as an evolving situation, the minister affirmed the government's commitment to protecting the country's interests.
Opposition Congress legislators on Thursday carried out a march and staged a demonstration at the Porch of the Rajasthan assembly here in protest against alleged compromise on the interests of India's agriculture and dairy sectors, in the India-US trade deal.
