Commerce and Industry Minister Piyush Goyal recently held discussions with US Senator Steve Daines and US Envoy to India, Sergio Gor, focusing on the bilateral relationship. This meeting is significant as India and the US are currently in the final stages of negotiating a trade deal. Goyal expressed satisfaction with the productive exchange of views during the meeting.
US Envoy Sergio Gor highlighted the ongoing active engagement between India and the US in trade discussions. He emphasized that while trade is crucial for the relationship, both countries are committed to collaborating closely on various other important areas like security, counter-terrorism, energy, technology, education, and health.
According to Commerce Secretary Rajesh Agrawal, the initial phase of the India-US trade deal is nearing completion, although no specific timeline has been provided. Recent virtual discussions between Commerce Minister Piyush Goyal and US Trade Representative Jamieson Greer have been positive, with both sides’ negotiating teams working continuously towards a consensus.
India is optimistic about maintaining positive export trends to the US. Notably, electronics exports, currently exempt from tariffs, have been a major contributing factor. However, other sectors are still facing challenges due to higher duties, as explained by the Commerce Secretary.
US Envoy Sergio Gor also revealed that India is set to become a full member of PaxSilica next month. PaxSilica, a new US initiative launched recently, aims to establish a secure and innovative silicon supply chain covering critical minerals, energy inputs, advanced manufacturing, semiconductors, AI development, and logistics.
