The India-US trade deal’s initial phase, aimed at lowering US-imposed tariffs on Indian exports, is nearing finalization, as per Commerce Secretary Rajesh Agrawal. A virtual meeting between India’s commerce minister Piyush Goyal and US Trade Representative Jamieson Greer took place in late December, with ongoing discussions to reach an agreement. Currently, the US has imposed a 50% tariff on most Indian goods, one of the highest globally.
India is optimistic about maintaining positive export trends to the US, particularly in electronics, which are presently tariff-free. However, other sectors continue to face challenges due to elevated duties, highlighted by the Commerce Secretary. Both countries are actively engaged and dedicated to reaching a mutually beneficial trade deal, Agrawal emphasized.
US Ambassador Sergio Gor recently affirmed the ongoing trade discussions between India and the US. Gor mentioned President Trump’s well wishes to Prime Minister Narendra Modi, underscoring the strong bilateral relationship. While trade remains a crucial aspect of India-US ties, Gor emphasized collaboration in security, counter-terrorism, energy, technology, education, and health sectors.
Gor also disclosed India’s upcoming full membership invitation to PaxSilica, a US-led initiative for a secure and innovative silicon supply chain. Launched last month, PaxSilica aims to enhance manufacturing, semiconductors, AI development, and logistics. India’s inclusion, alongside nations like Japan, South Korea, the UK, and Israel, is expected to bolster the group further.
