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Business Standard
17 hours ago
- Business
- Business Standard
India US in active talks on bilateral trade pact, govt tells Parliament
Teams of both India and the US are presently engaged in "active negotiations" on the Bilateral Trade Agreement (BTA), the government informed Parliament on Thursday. In a written response to a query in the Rajya Sabha, Minister of State for External Affairs Kirti Vardhan Singh also said, "Discussions are aimed at adopting an integrated approach to further strengthen and deepen bilateral trade relations, including through enhanced mutual market access, reduction of tariff and non-tariff barriers, and closer integration of supply chains." The Ministry of External Affairs was asked by Shiv Sena (UBT) MP Priyanka Chaturvedi whether the government has taken note of the recent announcement by the US administration regarding the reimposition of tariffs on Indian exports. "On the sidelines of the Quad Foreign Ministers' Meeting held in Washington, DC on 1 July 2025, the External Affairs Minister referred to the Bilateral Trade Agreement (BTA) negotiations that are going on between India and the US," Singh said. Both sides acknowledged the importance of "maintaining positive momentum" in these negotiations and expressed their commitment to an early conclusion of the first tranche of a mutually beneficial, multi-sector BTA, the MoS said. "The trade teams of both countries are presently engaged in active negotiations on the Bilateral Trade Agreement (BTA)," he added. Singh said that on April 2, 2025, the US announced the imposition of additional ad valorem reciprocal duties on 185 countries (including the European Union). As per the order, a 10 per cent tariff was imposed on all countries effective April 5 this year. From April 9, this was to be revised to "country-specific tariffs". "The reciprocal tariff applicable to India was fixed at 26 per cent. Subsequently, a 90-day pause, till 9 July 2025, was authorised with substantially lower reciprocal tariff of 10 per cent. On 7 July 2025, the implementation date for the reciprocal tariffs was further extended from 9 July 2025 to 1 August 2025," he added. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
The Hindu
21 hours ago
- Business
- The Hindu
India, U.S. presently engaged in active negotiations on Bilateral Trade Agreement: Govt in Parliament
Teams of both India and the U.S. are presently engaged in "active negotiations" on the Bilateral Trade Agreement (BTA), the government informed Parliament on Thursday (July 24, 2025). In a written response to a query in the Rajya Sabha, Minister of State for External Affairs Kirti Vardhan Singh also said, "Discussions are aimed at adopting an integrated approach to further strengthen and deepen bilateral trade relations, including through enhanced mutual market access, reduction of tariff and non-tariff barriers, and closer integration of supply chains." The Ministry of External Affairs was asked by Shiv Sena (UBT) MP Priyanka Chaturvedi whether the government has taken note of the recent announcement by the U.S. administration regarding the reimposition of tariffs on Indian exports. "On the sidelines of the Quad Foreign Ministers' Meeting held in Washington, DC on 1 July 2025, the External Affairs Minister referred to the Bilateral Trade Agreement (BTA) negotiations that are going on between India and the U.S.," Mr. Singh said. Both sides acknowledged the importance of "maintaining positive momentum" in these negotiations and expressed their commitment to an early conclusion of the first tranche of a mutually beneficial, multi-sector BTA, the MoS said. "The trade teams of both countries are presently engaged in active negotiations on the Bilateral Trade Agreement (BTA)," he added. Mr. Singh said that on April 2, 2025, the U.S. announced the imposition of additional ad valorem reciprocal duties on 185 countries (including the European Union). As per the order, a 10% tariff was imposed on all countries effective April 5 this year. From April 9, this was to be revised to "country-specific tariffs". "The reciprocal tariff applicable to India was fixed at 26%. Subsequently, a 90-day pause, till 9 July 2025, was authorised with substantially lower reciprocal tariff of 10 per cent. On 7 July 2025, the implementation date for the reciprocal tariffs was further extended from 9 July 2025 to 1 August 2025," he added.
Mint
a day ago
- Business
- Mint
India-US trade deal: Both countries in talks to finalise pact and reduction of tariff, says MEA responds to Oppn query
Th Ministry of External Affairs (MEA) on Thursday, July 24, responded to a question linked to the 'reimposition of tariffs on Indian exports' by the United States, saying India and the US are working towards finalising the 'first tranche of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA).' The foreign ministry also said that the trade teams of both countries are presently engaged in active negotiations on the BTA and discussions are 'aimed at adopting an integrated approach to further strengthen and deepen bilateral trade relations, including through enhanced mutual market access, reduction of tariff and non-tariff barriers, and closer integration of supply chains.' The question came from Shiv Sena (UBT) MP Priyanka Chaturvedi who asked '(a) whether Government has taken note of the recent announcement by the United States administration regarding the reimposition of tariffs on Indian exports, including a proposed 26 percent duty on select sectors; (b) whether the issue of these tariffs was formally raised by the Indian delegation during the External Affairs Minister's visit to Washington from 30 June to 2nd July, 2025, for the Quad Ministerial Meeting.' Also Read | Explainer: Possible impact of Trumps reciprocal tariffs on India Responding to the query raised by the Opposition MP, MoS MEA Kirti Vardhan Singh said, 'On 2 April 2025, the US announced the imposition of additional ad valorem reciprocal duties on 185 countries (including the European Union). As per the order, a 10 per cent tariff was imposed on all countries effective 5 April 2025.' 'From 9 April 2025, this was to be revised to country-specific tariffs. The reciprocal tariff applicable to India was fixed at 26%. Subsequently, a 90-day pause, till 9 July 2025, was authorized with substantially lower reciprocal tariff of 10%. On 07 July 2025, the implementation date for the reciprocal tariffs was further extended from 9 July 2025 to 1 August 2025.'
India.com
3 days ago
- Business
- India.com
Explained: Why Trump Is Holding Out A Surprise Trade Deal With India Despite Agriculture Deadlock
New Delhi: With the clock ticking toward the August 1 deadline, India and the United States remain divided on key issues holding up a trade agreement. Agriculture and automotive components continue to block the finalisation of the deal, despite multiple rounds of negotiation between the two sides. The Indian negotiation team has returned from Washington after presenting its offer. According to sources close to the talks, New Delhi has placed its terms on the table and is now waiting. Agriculture, particularly the issue of opening the Indian market to U.S. farm imports, remains the core of the disagreement. India has cited concerns over the impact on domestic farmers and food security. The United States has expressed interest in securing agricultural concessions, especially as the outcome with India could set a model for its upcoming negotiations with Japan and the European Union. Officials involved in the process have not dismissed the possibility of a sudden move by President Donald Trump, who has previously unveiled trade agreements with Indonesia and Vietnam that diverged from what negotiators had initially discussed. These deals, which followed direct conversations between Trump and the respective heads of state, have made Indian officials cautious. India has shifted focus toward a broader Bilateral Trade Agreement (BTA), targeting a resolution by September or October. However, with President Trump's unpredictable approach, a last-minute announcement for a mini-deal remains on the table. Both sides are aware of the political weight Trump places on trade announcements and their potential electoral appeal. From India's end, agriculture and dairy continue to be areas where New Delhi has shown little room for compromise. From the U.S. side, resistance to reducing import tariffs on automotive components has been flagged as a sticking point. Officials have indicated that no agreement will be signed without addressing these core issues. Meanwhile, in a separate but related development, U.S. Treasury Secretary Scott Bessent, speaking on July 21, said that the Trump administration is prioritising the quality of trade agreements over meeting specific timelines. 'We are not going to rush for the sake of doing deals,' he told CNBC. When asked about the August 1 deadline, he stated that any decision to extend it would come from President Trump. Bessent also suggested that in the absence of agreements, higher tariffs could be reintroduced to increase pressure on negotiating countries. 'If we somehow boomerang back to the August 1 tariff, I would think that a higher tariff level will put more pressure on those countries to come with better agreements,' he said. He confirmed upcoming trade discussions with China, highlighting American concerns over Beijing's continued purchase of sanctioned Iranian and Russian oil. Bessent said there are broader economic imbalances that need to be addressed in future talks with Beijing. On Japan, he said the administration's focus remains on the trade outcome, not the country's internal political factors. He also indicated that the United States may push European countries to align with American positions, particularly if Washington proceeds with secondary sanctions on Russia. As of now, all eyes remain on President Trump. Whether he chooses to push through a trade deal with India before the deadline or hold out for further leverage remains to be seen. Indian officials have made clear that their side has submitted its final position and will wait for Washington's next move.
Time of India
3 days ago
- Business
- Time of India
Five rounds of talks held for trade agreement with US
India and US are negotiating a Bilateral Trade Agreement (BTA) which has not been signed as yet and five rounds of negotiations have been held till now, the government informed Parliament on Tuesday. The BTA negotiations were launched in March 2025. "India and the US are negotiating a Bilateral Trade Agreement which has not been signed as yet," the minister of state, commerce and industry ministry Jitin Prasada told LS in a written reply. Explore courses from Top Institutes in Please select course: Select a Course Category Operations Management PGDM Degree Public Policy others MBA Healthcare Management healthcare Finance Others CXO Artificial Intelligence Data Science Project Management Design Thinking Data Science Leadership MCA Digital Marketing Product Management Data Analytics Technology Cybersecurity Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details In a separate reply, he said the last round of talks was held from July 14-18 in Washington. The minister also said that India's free trade agreement (FTA) with the UK is a modern, comprehensive and landmark agreement which seeks to achieve deep economic integration along with trade liberalisation and tariff concessions. "The FTA ensures comprehensive market access for goods across all sectors, covering all of India's export interests. The FTA seeks to promote good regulatory practices and enhance transparency that are in sync with India's own focus on domestic reforms to enhance the ease of doing business," he said. Live Events
