Bilateral Trade
US Vice President Vance calls for greater US access to Indian markets
This story was originally published at 20:30 IST on 22 April 2025
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NEW DELHI – US Vice President J.D. Vance Tuesday called on India to consider dropping non-tariff barriers for greater US access to Indian markets. He said India should buy more defence equipment, including fifth generation fighter aircraft, and energy from the US.
"India may consider dropping some of the non-tariff barriers for US access to Indian markets," Vance said at a public event in Jaipur, Rajasthan. A report by the US Trade Representative stated that India imposes numerous non-tariff barriers on the US, which include licensing requirements on certain goods, mandatory quality control orders, custom barriers, price control on medical devices, and mandatory domestic testing and certification requirements for equipment.
According to media reports, the US intends to press India to allow full access to its e-commerce market for US companies such as Amazon and Walmart. The push for access to India's e-commerce market is part of the bilateral trade deal being negotiated between the two countries.
India and the US agreed to seal a bilateral trade pact during Prime Minister Narendra Modi's visit to the US in February. The two countries are holding negotiations and the first tranche is expected to be launched by fall this year, Finance Minister Nirmala Sitharaman confirmed Monday. The trade pact can help India avoid the currently-paused 26% reciprocal tariffs imposed by US President Donald Trump to address the trade deficit US has with India. India exported goods worth $87.4 billion to the US in 2024 and had a trade surplus of $45.7 billion.
Vance also said that the terms of reference for trade negotiations were finalised during his meeting with Prime Minister Modi Monday. According to the US, the terms of reference outlines key areas of cooperation including increasing market access, reducing tariff and non-tariff barriers, and negotiating a robust set of additional commitments to ensure long-term benefits. End
US$1 = INR 85.19
Reported by Kuldeep Singh
Edited by Nishant Maher
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