India-US trade deal: The much-awaited trade agreement between India and America has now reached the final stage and is expected to be completed very soon. Foreign Minister S. Jaishankar said this after returning from his Washington trip on Thursday.
This statement has come at a time when just a few days ago both the countries have agreed to reduce American tariffs on Indian goods. It is believed that after this agreement, a new phase will begin in India-America relations.
Big statement after Washington visit
S. Jaishankar had gone to America to attend the ministerial meeting on critical minerals. During this, he met US Treasury Secretary Scott Besant and Foreign Minister Marco Rubio and discussed trade and economic cooperation. Jaishankar told that the work of this trade agreement is being looked after by Commerce Minister Piyush Goyal and he does not yet have concrete information regarding the deadline.
On social media, he wrote, “The visit to America was positive and useful. The historic trade agreement between India and America is now in its final stages and will be completed very soon. This will open a new chapter in the relations between the two countries and will create many new possibilities in the future.”
He also said that cooperation on critical minerals between the two countries is progressing rapidly. In the coming days, discussions will also be seen on strategic issues, defense and energy. Overall, relations between the two countries are clearly showing good momentum, especially after months of tensions over trade issues.
What did the Ministry of External Affairs say on the tariff?
Foreign Ministry spokesperson Randhir Jaiswal told the weekly press briefing in New Delhi that the American side has made it clear that the final tariff on Indian goods will be 18%. Citing the statements made after the phone conversation between Prime Minister Narendra Modi and US President Donald Trump on Monday, he said that the PM had also told that Indian products will now be sent to America at a lower tariff of 18%.
Randhir Jaiswal said, “This trade agreement will give a big boost to our exports. It will benefit India’s labour-intensive industries, create new employment opportunities and bring development and prosperity to the country.”
This agreement will be done in the first phase
People associated with the matter say that this lower tariff of 18% will be implemented when all the formalities are completed and both the countries finalize the agreement. This will be the first phase of the bilateral trade agreement between India and America.
In the meeting with Scott Besant, Jaishankar discussed ways to further the economic relations and strategic cooperation of the two countries. At the same time, issues like trade, energy, nuclear, defence, critical minerals and technology were included in the conversation with Marco Rubio. Both sides also agreed to hold early meetings of various mechanisms to advance common interests.
Security maintained in sensitive areas
People associated with this whole matter also said that there is little possibility of India reducing the tariff on American goods to zero. India has ensured necessary steps to protect its interests in sensitive sectors like agriculture and dairy.
He also said that frequent contacts between the two countries, including meetings with US Ambassador Sergio Gore in New Delhi, indicate that India and the US are working towards rebalancing and strengthening relations in many areas, so that the strategic partnership can be taken forward.
