New Delhi, Feb 12 (IANS) India’s trade surplus with the US may cross $90 billion annually after the trade deal, with at least a $45 billion annual additional trade surplus with the US, which is 1.1 per cent of the GDP, and savings of $3 billion in forex reserve, an SBI Research report said on Thursday.The trade deal with the US, back on the heels of wide arc of trade deals with the EU and the UK, catapults India to a unique strategic position wherein the country, as also its exporters, are poi…
Latest Trade Deal News & Updates
Bhiwani (Haryana), Feb 10 (IANS) Political reactions continued to pour in over the India–US trade deal, with leaders from the ruling party and the Opposition offering sharply contrasting views on its impact, particularly on the agriculture sector. Speaking to media persons in Haryana’s Bhiwani, former Minister of Agriculture and Farmers’ Welfare of Haryana, Jai Parkash Dalal described the agreement as highly beneficial for India. Jai Parkash Dalal described the agreement as highly beneficial…
Washington, Feb 10 (IANS) US Congressman Suhas Subramanyam welcomed the India-United States trade deal announced last week, calling it a necessary step after what he described as an unsustainable period of high tariffs that hurt businesses and strained bilateral ties.“I think it’s a great step forward,” Subramanyam said when asked about the agreement. “I think the reality is, we were not on a sustainable path by having these high tariffs, and the reality is moving forward, the US and India…
Washington, Feb 10 (IANS) Days after President Donald Trump unveiled a trade deal with India, the White House said negotiations will continue on unresolved tariff and non-tariff barriers, even as a newly released fact sheet detailed key features of the agreement and its implementation roadmap.The fact sheet follows last Friday’s joint statement issued after a call between Trump and Prime Minister Narendra Modi, during which the two leaders agreed on a framework for an Interim Agreement on reci…
New Delhi, Feb 8 (IANS) Union Agriculture Minister Shivraj Singh Chouhan said on Sunday that many agricultural products of Indian farmers will now be exported to the United States of America with zero tariffs and American farmers’ agricultural products will not receive this concession in the Indian market. Stressing that India’s interests in agriculture and dairy are fully protected, the Union Minister added that the US has made significant reductions in tariffs on many products in the agricultu…
Seoul, Feb 8 (IANS) The prime minister held talks with key ruling Democratic Party (DP) lawmakers and the presidential chief of staff on Sunday to discuss a special bill on implementing South Korea’s investment pledges to the United States and other pending issues, officials said.The meeting, held at the residence of the prime minister, came as rival political parties agreed last week to establish a special committee to handle the investment bill amid U.S. President Donald Trump’s tariff hike th…
New Delhi, Feb 8 (IANS) Calling it a major boost to bilateral ties, Bihar BJP State President Sanjay Saraogi on Sunday said the India-US Interim Trade Agreement marks a new chapter in economic cooperation between the two nations. Reacting to the development, Saraogi said, “The India-US interim trade agreement gives a new direction to economic cooperation between the two countries. This agreement will strengthen trade, investment, technology, and supply chains, helping India achieve its Viksit …
New Delhi, Feb 7 (IANS) When US President Donald Trump officially confirmed the much-awaited bilateral trade deal, immediately reducing American tariffs on Indian goods from 25 to 18 per cent, and Prime Minister Narendra Modi corroborated, there was a mixed reaction. And Saturday, even before India woke up, the news had broken of an US-India Joint Statement announcing an Interim Agreement.The framework will lead to the broader US-India Bilateral Trade Agreement (BTA) negotiations, launched by Pr…
New Delhi, Feb 7 (IANS) As the United States and India unveiled an interim trade framework aimed at reducing tariffs and enhancing bilateral economic ties, farmers across the country on Saturday welcomed the development, saying it will prove beneficial for the farm sector. They said the agreement could strengthen farmers’ livelihoods and improve conditions in rural areas. IANS spoke to farmers in Gujarat, Uttar Pradesh and Rajasthan, who expressed optimism over the impact of the trade framewor…
New Delhi, Feb 7 (IANS) Commerce and Industry Minister Piyush Goyal said on Saturday that the farmers’ interests remain paramount and no concessions have been extended to sensitive agricultural sector produce in grains, fruits, vegetables, spices, oilseeds, dairy, poultry and meat, among others.Replying to a question from IANS during a press meet here, Goyal said the country has secured preferential access for Indian goods through the India-US Interim Agreement framework.“There has been no com…