Washington, Feb 7 (IANS) The United States and India announced a framework for an Interim Agreement on reciprocal, mutually beneficial trade, a step aimed at advancing talks toward a broader bilateral trade pact, as the White House formally announced to reduce the tariff on imports of Indian products from 25 per cent to 18 per cent.According to a joint statement, the framework reaffirms both sides’ commitment to negotiations on a US-India Bilateral Trade Agreement. Those talks were launched by P…
Latest Bilateral Trade Agreement News & Updates
New Delhi, Feb 5 (IANS) India is set to roll out the first tranche of its Bilateral Trade Agreement (BTA) with the United States in matter of days which will see a reduction in tariffs on domestic exports to 18 per cent, Commerce and Industry Minister Piyush Goyal said on Thursday.The minister said that a joint India–US statement is likely to be released in the next four to five days. Once an executive order is issued following the statement, the reduced 18 per cent US tariff on Indian goods w…
New Delhi, Dec 25 (IANS) India saw highest engineering exports of this fiscal at $11.01 billion in November, driven by a favourable base effect and a sharp jump in shipments to the US and EU, industry data showed on Thursday.Exports to India’s top two major destinations, the US and the EU, jumped significantly in November this year. Exports to the EU witnessed a hefty 39 per cent increase in November after declining in the previous two months.During November this year, engineering exports achiev…
New Delhi, Dec 22 (IANS) Commerce and Industry Minister Piyush Goyal said on Monday that India and the United States are in the advanced stages of negotiating a bilateral trade agreement. Goyal told journalists that India has already finalised free trade agreements with three members of the Five Eyes (FVEY) intelligence alliance — Australia, the UK, and New Zealand. The US and Canada comprise the other two members of the grouping.The minister said that they are also preparing to re-engage Cana…