Bilateral Trade
Trade pact talks with US progressing "excellently", says govt source
This story was originally published at 21:41 IST on 8 May 2025
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--Govt source: Trade pact talks with US progressing "excellently"
NEW DELHI – India's negotiations for a trade pact with the US is progressing "excellently", a commerce ministry official said without giving details of the discussions. Both the sides have set the target to launch first tranche of the trade deal by the fall of 2025.
The trade agreement is New Delhi's hope to avoid Washington's proposed reciprocal tariffs of 26% on Indian goods. The US tariffs may be effected in July. The reciprocal duty by Washington could significantly affect Indian exporters' business as the US is India's top export destination.
Both the sides had a bilateral trade of $107.02 billion in Apr-Jan that included exports worth $68.45 billion, according to latest data available with the commerce ministry. End
US$1 = INR 85.71
Reported by Krity Ambey
Edited by Akul Nishant Akhoury
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