Latest news with #India-UnitedStates
Hans India
a day ago
- Business
- Hans India
Cloud of uncertainty over Indo-US BTA seems to be lifting
After weeks of uncertainty and doubts over the US-India trade deal, it seems like it may finally be signed shortly. It may be recalled that the 90-day pause for the tariffs that US President Donald Trump imposed nears its end. He announced the pause on April 9. Washington imposed a 26 per cent tariff rate on Indian made goods. External Affairs Minister S. Jaishankar is quoted as saying, 'We are in the middle—more than the middle—of a trade negotiation. I hope to bring it to a conclusion, but I can't guarantee it as there is another party involved.' He hinted that this could be done 'over the next few days.' Incidentally, the US has corroborated this. Saying that Trump shares a 'very good relationship' with Prime Minister Narendra Modi, the White House press secretary Karoline Leavitt confirmed this much during a press briefing: 'Yes, the President said that last week [that the US and India are very close to a trade deal], and it remains true. I just spoke to our Secretary of Commerce about it. He was in the Oval Office with the President. They are finalising these agreements, and you'll hear from the President and his trade team very soon when it comes to India.' Hopefully, the optimism expressed by Delhi and Washington materialises. For, quite apart from the knotty bilateral issues, there is the matter of Trump taking credit for stopping the hostilities between India and Pakistan in May. The Indian government didn't like that; this also apparently resulted in the hardened stance by our negotiators. Besides, many Sangh Parivar-affiliated bodies like the Bharatiya Kisan Sangh (BKS) and Swadeshi Jagran Manch (SJM) were opposed to certain aspects of the India-United States bilateral trade agreement (BTA). These aspects are related to genetically modified (GM) crops, dairy products, relaxed regulations on medical devices, and data localisation. It looks like the government, while addressing the genuine concerns of the BKS-SJM types, has ignored their ideologically motivated demands. This is quite appropriate for policy formulation. The proposed US-India BTA holds significant potential to transform the economic and strategic landscape between the two nations. Beyond the immediate goal of boosting bilateral trade volumes, the BTA can catalyse deepening economic integration and fostering long-term cooperation in key sectors. Increased market access and reduced trade barriers under the agreement would likely encourage higher US investments in India, particularly in areas like manufacturing, infrastructure, energy and services. Furthermore, the BTA could facilitate the transfer of advanced technologies, especially in critical domains like defence, information technology, renewable energy, and pharmaceuticals. This technology sharing would not only strengthen India's domestic capabilities but also enhance its global competitiveness. Small and medium-sized enterprises (SMEs) in both countries could particularly benefit from easier market entry and reduced regulatory hurdles, thereby promoting inclusive economic growth. On a strategic level, the BTA can consolidate the growing US-India partnership, which is increasingly seen as vital for maintaining balance and stability in the Indo-Pacific region. Moreover, enhanced economic ties will complement the existing defence and security cooperation, reinforcing the shared commitment to a free, open, and rules-based international order. Ultimately, the BTA has the potential to evolve from a mere trade pact into a cornerstone of a robust, multifaceted US-India alliance that spans commerce, technology, investment, and geopolitics.
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Business Standard
3 days ago
- Business
- Business Standard
India-US BTA: Sangh affiliates draw red line over GM crops, dairy products
Affiliates of the Sangh Parivar have said the India-United States bilateral trade agreement (BTA) is unlikely to happen if America continues to be 'stubborn' about securing market access for genetically modified (GM) crops, dairy products, relaxed regulations on medical devices, and data localisation. The Bharatiya Kisan Sangh (BKS) and Swadeshi Jagran Manch (SJM) have flagged the issue that concessions to the United States (US) in the agriculture sector, including dairy products, will have ramifications for the country's food security. The parivar has pointed to the efforts by US Senator Lindsey Graham to move a Bill that envisages steep economic penalties for India, and also China, for importing Russian oil. The Bill could propose a 500 per cent tariff on imports from countries not supporting Ukraine. On Monday, SJM National Co-Convenor Ashwani Mahajan posted on X: 'No matter what US President Donald Trump says, there cannot be a trade deal with the US because India cannot give what America is asking for.' Mahajan said India could not possibly give ground on market access to America's genetically modified crops and other agricultural products. 'How can the country's agriculture and small industries be sacrificed in front of America's stubbornness,' Mahajan said. India cannot allow 'non-vegetarian milk and dairy', he said, adding that there could not be any agreement that compromised the interests of India's farmers and dairy. Talking to Business Standard, Mahajan said the SJM had opposed the Regional Comprehensive Economic Partnership (RCEP) because it would have compromised the interests of India's farmers. 'India's farmers will be unable to compete with the US, given the subsidies that the latter provides its farmers. What if India's farmers stop producing?' Mahajan asked. Earlier this month, the BKS had slammed the NITI Aayog for its working paper that recommended increasing agricultural trade between India and the US. The BKS accused the Aayog of 'kneeling in the tariff war with the US'. In a post on X on Sunday, Jairam Ramesh, Congress general secretary in charge communications, wondered why the NITI Aayog working paper, titled 'Promoting India-US Agricultural Trade Under the New US Trade Regime', and issued on May 30, was withdrawn. 'It got reported and also invited some critical comments. Now the Working Paper has gone missing from the Aayog's website. It has reportedly been withdrawn. Wonder why?' he asked. The paper has been taken off the Aayog's website since June 23. Some farmer groups such the Bharatiya Kisan Union (Apolitical) said it was because of them and other peasant organisations. In a statement, BKS All India General Secretary Mohini Mohan Mishra said the working paper had recommended that India, under the proposed BTA, open up its market for rice, pepper, soybean oil, shrimp, tea, coffee, dairy products, poultry, apples, almonds, pistachios, corn, and GM soy products. Mishra said that doing so could risk the livelihoods of 700 million Indians dependent on agriculture. 'When the government is preparing to make the country self-reliant in oilseeds, then reducing the import duty on edible oil is a contradictory decision in itself,' Mishra said. Mishra said the advisors to the NITI Aayog should reconsider their recommendations. 'It is well known that in the US, GM soya and maize are used as animal feed and some amount of ethanol is produced from them. In such a situation, why is it suggested that the crop be imported?' he asked. The BKS leader said the government had formulated a policy to add 20 per cent ethanol to petrol and had already added 18.5 per cent ethanol. 'In such a situation, the suggestion to import American GM corn shows a conflict with the interests of farmers. Such unethical suggestions of the Ayog should be corrected immediately,' Mishra said, adding that the think tank bowing under pressure was not good for India. If the Aayog does not have faith in the country's capabilities, the government needs to review its working system, he said.
India Gazette
06-06-2025
- Business
- India Gazette
"India-US bilateral trade agreement negotiations resume in Delhi"
Brescia [Italy], June 5 (ANI): The next round of negotiations for the India-United States Bilateral Trade Agreement commenced in Delhi, with US trade team officials in the capital engaging in crucial discussions aimed at strengthening economic ties between the two nations. In an exclusive interview with ANI, Commerce and Industry Minister Piyush Goyal confirmed that US trade team officials have reached India, with additional team members expected to arrive soon to participate in the negotiations. The talks come against the backdrop of recent statements by Goyal in Paris on June 1, where he outlined that India and the United States are working toward providing preferential market access to their respective businesses. Teams from both nations are actively collaborating on the proposed bilateral trade agreement framework. When asked about US President Donald Trump's announcement to increase tariffs on steel and aluminium to 50 percent, Goyal indicated that both countries remain committed to addressing trade issues through bilateral dialogue. 'Let us wait and watch... both the US and India share good relations and we will continue to work together to resolve all these issues bilaterally,' Goyal said. The current negotiations build upon commitments made in February, when US President Donald Trump and Prime Minister Narendra Modi announced plans to negotiate the initial phase of a comprehensive, multi-sector Bilateral Trade Agreement. The timeline targets completion by fall 2025. The proposed agreement is ambitious in scope, seeking to dramatically expand bilateral trade from the current $191 billion to $500 billion by 2030. This represents more than a doubling of trade volumes between the world's largest democracy and its most powerful economy. The negotiations in Delhi mark a significant step forward in what both nations view as a strategic economic partnership, with potential implications for global trade patterns and supply chain configurations in key sectors including technology, pharmaceuticals, defence, and agriculture. (ANI)
NDTV
15-05-2025
- Business
- NDTV
"Complicated, Nothing Decided Till...": S Jaishankar On India-US Trade Deal
New Delhi: Talks over an India-United States trade deal are ongoing, External Affairs Minister S Jaishankar said Thursday, labelling them 'complicated' and warning "nothing is decided till everything is..." "Any trade deal has to be mutually beneficial; it has to work for both countries. That would be our expectation from any trade deal. Until that is done, any judgement will be premature," Mr Jaishankar told reporters this evening at the opening of the Honduras' new embassy in Delhi. An India-US trade deal would be a major event at any time, but more so since Donald Trump returned to power in Washington, D.C., bringing with him a slew of tariffs to counter duties other countries - including India, whom he decried as 'a very big abuser' - impose on the import of US goods. Trump imposed 'reciprocal tariffs' on India - worth around 27 per cent - in April. These tariffs were later suspended, as they were for many other nations in a similar situation, till July 9. #WATCH | EAM Dr S Jaishankar says, "Between India and the US, trade talks have been going on. These are complicated negotiations. Nothing is decided till everything is. Any trade deal has to be mutually beneficial; it has to work for both countries. That would be our expectation… — ANI (@ANI) May 15, 2025 However, the 10 per cent baseline tariff imposed on all countries on April 2 remains in effect, in addition to the 25 per cent taxes on steel, aluminium, and auto components. NDTV Explains | Trump's 25% Auto Tariffs. What Are They, Who Is Affected? India reacted by lowering tariffs on some American goods, including motorcycles and bourbon whiskey, but the government later delinked the revision of duties and Trump's tariff threats. India also said it would not retaliate to the US' tariffs, as others had, opting instead to reinforce the messaging to Washington, that 'Delhi wants to remain a trusted trading partner...' Since then the two countries have been working to exepdite an agreement that Trump and Prime Minister Narendra Modi believe will push bilateral trade to over $500 billion by 2030. In April US Vice President JD Vance was in India and, in a major announcement, said the two nations had finalised terms of reference. Days later Trump indicated a deal - as part of which India may give the US the rarely-given 'forward most-favoured nation' status - was imminent. The deal, when it is struck, is expected to cover 24 categories of goods traded between India and the US, which include farm products like soybeans and corn, and military equipment. In return, Delhi has asked for favourable tariffs for labour-intensive sectors like textiles, toys, leather goods, furniture, gems and jewellery, and automotive components. Talks over the deal are also playing out over India and Pakistan's 100-hour war last week - the fallout of the April 22 Pahalgam terror attack and Delhi's military response, Operation Sindoor. The India-Pak conflict, which threatened at one point to escalate into a full-blown war, settled into a ceasefire for which Trump (repeatedly and falsely) claimed credit, including declaring he had pressured both countries to stand down or risk losing American trade.
