India-US trade deal may show the path to other countries: Report
The upcoming India-US
Bilateral Trade Agreement
(BTA) is expected to become a model for India's future trade negotiations with other developed nations, according to a report by ACMIIL, a stock market company.
The report highlighted that the deal marks a major shift in India's trade strategy, as it aims to use trade as a tool to acquire advanced technologies, speed up industrial growth, and strengthen its position in the global economy.
It said, "Once India-U.S. Bilateral Trade Agreement (BTA) finalised, it will likely set a precedent for future trade negotiations with other developed economies."
5
5
Next
Stay
Playback speed
1x Normal
Back
0.25x
0.5x
1x Normal
1.5x
2x
5
5
/
Skip
Ads by
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Free P2,000 GCash eGift
UnionBank Credit Card
Apply Now
Undo
The report mentioned that the agreement is closely aligned with India's "
Make in India
" and "
Atmanirbhar Bharat
" (self-reliant India) initiatives. These programmes focus on boosting domestic production and reducing dependency on imports.
As part of the BTA, India is likely to reduce tariffs on some American agricultural and food products. This will give American exporters more access to the Indian market and provide Indian consumers with a wider range of food items.
Live Events
In return, India will benefit by importing advanced US technologies in critical areas like defence, clean energy, and high-end manufacturing. These sectors are key to India's long-term development and national security plans.
The report added, "The agreement also includes regulatory cooperation, digital trade standards, and intellectual property rights enforcement, aiming to establish a transparent, rules-based environment that promotes
cross-border investments
and business predictability"
Meanwhile, India's economic outlook continues to remain strong. Domestic consumption is growing, supported by rising employment and better consumer confidence. Driven by government capital spending and tax reforms, private investment is also on the rise.
With 47 per cent of the population in the working-age group, household incomes are going up and people are spending more on convenience-based products.
India remains the fastest-growing major economy in the world and is expected to be among the top three global economies in the coming years. As global trade patterns shift, India could gain further by becoming a key part of diversified
global supply chains
.
The country is also projected to grow at a healthy 6.5 per cent in the financial year 2025-26, backed by strong macroeconomic fundamentals.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
4 minutes ago
- Business Standard
War clouds over West Asia: The risks of economic fallout are high
Since India has relations with both combatants and its economy stands to lose more than any other SCO member from this conflict, it has chosen to carve out an independent position Business Standard Editorial Comment Mumbai Listen to This Article Israel's attack on Iran signals an ominous widening of the war in West Asia, threatening a global economy that is struggling to come to terms with the havoc of American President Donald Trump's tariff wars. The barrage of air strikes that the two nations have exchanged so far has heightened the chances of an escalation into a proxy war between Israel, supported by the United States (US), and Iran-sponsored groupings in the region, the Houthi and the Hamas, with the potential of disrupting critical trade routes and air space on both sides of the Arabian Peninsula. East of Saudi Arabia,
Indian Express
8 minutes ago
- Indian Express
‘No Kings' protests: Why 5 million people took to streets against the Trump administration
The 'No Kings' protests that took the United States by storm on Saturday marked an outpouring of dissent against the Donald Trump administration. Named 'No Kings' as a nod against authoritarian governance, the roots of the protests stemmed from President Trump's immigration crackdowns, assaults on free speech, and reshaping of government institutions. Organised by the No Kings coalition, the protests drew an estimated five million participants across all 50 states, in over 2,100 cities and towns. These demonstrations were timed to coincide with a military parade held in Washington DC to commemorate the US Army's 250th anniversary. The date also happened to mark Trump's 79th birthday. While the protests have been scheduled for a while, their scale was enhanced by recent events in Los Angeles, where Immigration and Customs Enforcement (ICE) raided workplaces and arrested 44 people who were alleged to have entered the country illegally. These raids triggered a week of demonstrations, some escalating into car-burnings and violence, prompting Trump to send in 2,100 National Guard members and deploy 700 Marines to Los Angeles in defiance of local officials. The No Kings Coalition, using platforms like X and encrypted apps to coordinate across thousands of locations, achieved unprecedented numbers, with organisers claiming it was the largest single-day anti-Trump protest of his second term. Demonstrations varied in tone and size. In New York, Chicago, Denver, Austin, and Los Angeles, massive crowds marched with anti-authoritarian chants, waving American and Mexican flags, and carrying anti-Trump signs. As the Associated Press reports, Philadelphia's rally featured a woman in a foam Statue of Liberty crown leading an anti-Trump sing-along, adapting the popular song YMCA by replacing 'young man' with 'con man.' Atlanta's 5,000-capacity event overflowed, with thousands outside the state Capitol, while Seattle drew over 70,000 people. Houston's protests resembled a block party according to the New York Times, with Mexican music, food, and people jumping into fountains. Rural protests, including three dozen in Indiana and events in Mobile, Montgomery, and Tuscaloosa, Alabama, reached Trump strongholds. Despite the coalition's nonviolence pledge, isolated clashes occurred, although questions of reciprocity remain. In Los Angeles, police used tear gas and crowd-control munitions to clear people out after the protests ended. Elsewhere in Los Angeles, protestors gathered outside a federal detention center guarded by a line of Marines and other law enforcement. This was the first time the Marines have appeared at a demonstration since they were deployed to the city. Portland police fired tear gas at protesters outside an ICE building, and in Salt Lake City, a shooting during a march left one critically injured, with three in custody, including the suspected shooter. In Culpepper, Virginia, a 21-year-old driver was charged with reckless driving after injuring a protester by accelerating an SUV into a crowd. In Minnesota, Governor Tim Walz cancelled his St. Paul rally appearance after a man fatally shot a Democratic State Senator, an action Waltz described as being political in nature. Despite that thousands marched in Duluth, Rochester, and St. Paul. Political representatives and non-profit groups were also involved. Representative Chuy Garcia gave a speech in Chicago, the ACLU spoke in New York and Philadelphia, and union leaders were active across the country. Governors, including North Carolina's Josh Stein, Maryland's Wes Moore, and Arizona's Katie Hobbs, supported peaceful protest whereas governors in Virginia, Texas, Nebraska and Missouri activated their State National Guards to maintain order. In Washington DC, where the parade took place, about 500 protesters gathered in Lafayette Park, near the White House, the same spot where five years earlier, Trump had controversially deployed the National Guard to clear demonstrators before walking to a church for a photo op with a Bible. A banner reading 'All Hail Commander Bone Spurs' – a nod to Trump's exception from the wartime draft because of bone spurs in his foot – hung nearby. Trump had warned that parade disruptions would face 'heavy force,' though the White House later affirmed support for peaceful demonstrations. Globally, the protests inspired solidarity movements in Europe, Asia, and Africa. In Canada, the 'Tell Trump to Toque Off' protests opposed Trump's tariffs and remarks about Canada as a potential 51st state. 'Today, across red states and blue, rural towns and major cities, Americans stood in peaceful unity and made it clear: we don't do kings,' the No Kings Coalition said in a statement Saturday afternoon after many events had ended. However, while the protests may have captured attention rivalling (or perhaps exceeding) that of the military parade, the demonstrators' physical presence may oversimplify the nuance of public opinion. A CBS/YouGov survey from last week showed that 54 per cent of Americans approved of Trump's deportation policies, with 42 per cent feeling safer.
Hindustan Times
8 minutes ago
- Hindustan Times
An arena for Islamabad to do grandstanding
Pakistan will assume the presidency of the UN Security Council (UNSC) in July, for one month. However, in the run-up to the presidency, there has been much consternation in the Indian media about Pakistan becoming one of the three vice-chairs of UNSC's Committee on Counter-Terrorism (CTC). Algeria will remain the CTC chair till the end of 2025, and Pakistan wants to become the chair in 2026. Even though Pakistan unwisely held up the work of other UNSC Committees for a full five months just to get this express commitment for 2026 — similar to the dispensation India got in 2021 — the P-5 (permanent five members of UNSC) still would not agree to give Pakistan any such commitment. When India wanted to be the CTC chair during its term at UNSC between 2021-2022, there was no vacancy in 2021 since the chair, Tunisia, still had one year to go. Normally, the chair would then have gone to those members elected for 2022-2023, and India would have missed the chance. However, the UNSC, and more importantly, the P-5 (which included China), gave an express commitment to India in 2021 that it would be the CTC chair for 2022. Needless to add, India made an impact by bringing the entire CTC Committee in 2022 to visit the venue of the 2008 Mumbai attacks and chairing a special CTC session in New Delhi. Pakistan wanted a similar express commitment for the CTC chair in 2026, which was refused by the Council. This is not to say that it won't get the chair in 2026, but it will have five other newly elected member-States competing for the post. The P-5 also rightly, and outrightly, rejected Pakistan's demand to chair the 1267 sanctions committee dealing with al-Qaeda and ISIL (Da'esh), since the 1267 sanctions list is peppered with the names of Pakistani terrorists and terror groups, including Lashkar-e-Taiba and Jaish-e-Mohammed and the masterminds of the Pahalgam terror attack. Pakistan had to settle for the 1988 Taliban sanctions committee which has now become a mere shell of its former self after the Taliban takeover in Afghanistan in August 2021. Though some Taliban ministers are still on the sanctions list, they have been continuously given waivers from sanctions to perform their functions. If Pakistan thinks that it can arm-twist the Taliban as the chair, it is sadly mistaken. That said, the focus is on Pakistan's UNSC presidency in July. Its presidency comes in the aftermath of Operation Sindoor, with a civilian government fattened by the International Monetary Fund (IMF) and other loans and a military establishment receiving arms from China and Turkey. Since it is Islamabad's only presidency, during its term, it will go for the 'jugular vein' — borrowing a phrase from its much-decorated army chief. During its presidency, Pakistan can be expected to do all it can to have an open debate on Jammu and Kashmir to do some grandstanding on the world stage. It would ideally prefer this under an anachronistically titled agenda item, 'The India-Pakistan question'. However, the P-5 nations have allowed only closed consultations under this agenda item in the recent past. Since Pakistan is adamant about an open discussion, it may settle for another agenda item 'peaceful resolution of conflicts' which would, however, dilute the focus given there are enough conflicts around the world. Of course, technically any decision for an open or closed session can be challenged and voted on, for which nine affirmative votes out of 15 members are required (since vetoes do not apply to procedural votes). But Pakistan is mindful of the fact that contrary to what it is trying to project, there is really no appetite in the international community to internationalise the Kashmir issue. Moreover, while Indians like to portray any call for de-escalation as a hyphenation of India and Pakistan, this hyphenation is more in our minds and not in those who call for de-escalation. The world knows better. On the Indus Water Treaty, even before India held it in abeyance after the Pahalgam attacks, Pakistan had declared its intention to make it an issue during its presidency. After consistently thwarting India's attempt to renegotiate this lopsided treaty, it will take the matter to the UNSC citing breach of security. There is a precedence of UNSC presidential statements being adopted earlier, on the construction of the Grand Ethiopian Renaissance Dam that was contested by Egypt fearing decreased flow of Nile waters from Ethiopia. Any UNSC statement will require the concurrence of all 15 member-States. Further, a Pakistani focus on combatting terrorism and Islamophobia is inevitable, in the country's attempt to wipe away the stains of being a State sponsor of terrorism. A session on the Organisation of Islamic Cooperation is on the cards to burnish Pakistan's Islamic credentials. The Gaza war and Israeli-Iran conflict will receive attention. So will UN peacekeeping, since Pakistan is a major troop-contributing country. While our multiparty delegations have visited UNSC countries, multilateral issues have dynamics of their own. Close bilateral friendship with a country does not necessarily translate into greater multilateral cooperation at the UN. India will no doubt keep a close eye on what the US and the UK do in July, given recent American flip-flops on Pakistan and the UK's ambivalent postures in UNSC. Further, given India's geopolitical distancing from recent conflicts around the world — in its national interest — we should be prepared for similar reactions towards India when we need them. Given our standing, the world now expects us to get geopolitically involved in their problems as well. As I have argued before, it is time for India to take its right geopolitical place — regionally and globally. Pakistan's presidency also comes during the monsoon session of our Parliament. One hopes that we in India treat Pakistan's grandstanding with a sense of perspective and equanimity. No UNSC document can threaten the national interests of India. TS Tirumurti is a former ambassador and Permanent Representative of India to the United Nations, New York. The views expressed are personal
