India, U.S. advance interim trade deal after Washington talks
NEW DELHI — India and the United States have made progress on several key issues in their ongoing trade negotiations, including market access, non-tariff measures, technical barriers, customs facilitation, investment promotion, economic security alignment, and digital trade, the Commerce and Industry Ministry said.
The latest round of discussions took place in Washington, where officials from both countries worked to finalize details of an interim trade agreement.
“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 a statement.
The talks follow a Joint Statement issued earlier this year, in which both countries agreed on a framework for an interim agreement focused on reciprocal and mutually beneficial trade. That framework also reaffirmed a broader commitment to negotiations toward a comprehensive bilateral trade agreement.
As part of those efforts, an Indian delegation led by chief negotiator Darpan Jain traveled to Washington for in-person meetings aimed at advancing both the interim deal and the larger trade pact.
Commerce and Industry Minister Piyush Goyal said earlier this week that the first tranche of the bilateral trade agreement is nearly complete, with ministry officials continuing discussions in Washington.
“We have almost finalized the free trade agreement, the first tranche of the bilateral trade agreement with them,” Goyal told reporters.
“We are trying to work out what would be the mechanism by which India can get preferential market access in the U.S. market compared to our competitors,” he added.
The recent talks were initially delayed after the U.S. Supreme Court struck down President Donald Trump’s broad reciprocal tariff hikes, ruling that the administration had exceeded its constitutional authority by invoking emergency powers to impose sweeping import duties.
An earlier visit by the Indian delegation was postponed to allow both sides to assess the implications of the ruling before resuming negotiations. (Source: IANS)
