Latest news with #RajeshAgrawal
Mint
4 hours ago
- Business
- Mint
India-US trade deal: American officials to visit New Delhi in August for sixth round of talks
A team of US trade officials will visit India in August for the next round of talks for the proposed bilateral trade pact between the two nations, reported news agency PTI. "For the next round of talks, the US team will visit India in the second half of August," a PTIreport said, quoting an official. Last week, India and the US officials concluded the fifth round of trade talks in Washington. Rajesh Agrawal, India's chief negotiator and special secretary in the Department of Commerce, and Brendan Lynch, Assistant US Trade Representative for South and Central Asia, held the deliberations. In the fifth round of talks, issues related to agriculture and automobiles are learnt to have figured, reported PTI. Matters related to ways to deal with non-market economies, and SCOMET (Special Chemicals, Organisms, Materials, Equipment, and Technologies) also came up for discussion. New Delhi and Washington are looking at finalising an interim trade deal before August 1 deadline, which marks the end of the suspension period of Trump tariffs. The Trump administration has imposed 26 per cent tariffs on India. On April 2 this year, President Donald Trump announced reciprocal tariffs on the US trading partners. According to the report, New Delhi is seeking the removal of this additional tariff of 26 per cent. It is also seeking the easing of tariffs on steel and aluminium (50 per cent) and the auto sector (25 per cent). Certain farmers' associations have urged the government not to include any issues related to agriculture in the trade pact. India is also seeking duty concessions for labour-intensive sectors, such as textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas, in the proposed trade pact. On the other hand, the US wants duty concessions on certain industrial goods, automobiles, especially electric vehicles, wines, petrochemical products, agri goods, dairy items, apples, tree nuts, and genetically modified crops. In the April-June quarter of this fiscal year, India's merchandise exports to the US rose 22.8 per cent to $25.51 billion, while imports surged 11.68 per cent to $12.86 billion.
Time of India
6 hours ago
- Business
- Time of India
India-US trade deal: US team to visit India in August for another round of agreement talks; Trump's tariff deadline nears
India's goods exports to the US increased by 22.8 per cent to $25.51 billion during April-June this fiscal year. (AI image) India-US trade deal: Amidst ongoing negotiations between India and the US, an American delegation is scheduled to visit India in August. India and the US are looking to seal an interim trade deal before American President Donald Trump's' August 1 deadline even as talks for the first phase of the agreement will continue. The American delegation is expected to visit India in the second half of August for another round of discussions, an official told PTI. The Indian and American delegations concluded their fifth round of discussions for the agreement in Washington last week. The discussions were led by India's chief negotiator and special secretary in the Department of Commerce Rajesh Agrawal, alongside Assistant US Trade Representative for South and Central Asia Brendan Lynch. Also Read | 'No legal basis': Amidst India-US trade deal talks, America says India has no grounds for retaliatory tariffs at WTO; here's what the issue is about "For the next round of talks, US team will visit India in the second half of August," the official was quoted as saying. Regarding the prospect of an interim trade agreement before August 1, the official said that discussions were currently underway. India-US Trade Deal Talks Agricultural sector opening and auto sector tariffs were discussed during the fifth round of negotiations. Topics concerning approaches to handle non-market economies, and SCOMET (Special Chemicals, Organisms, Materials, Equipment, and Technologies) were also deliberated. India has toughened its stance on American requests for duty reductions on agricultural and dairy products. New Delhi has maintained its position of not offering duty concessions in the dairy sector to any trading partners within free trade agreements. Several farmers' organisations have requested the government to exclude all agriculture-related matters from the trade agreement. India wants the US to do away with the supplementary tariff of 26% whilst pursuing reductions in steel and aluminium duties (50 per cent) and automotive sector levies (25 per cent). These discussions form a crucial component of the ongoing trade agreement talks. India maintains its WTO-sanctioned authority to implement reciprocal duties in response. India seeks preferential duty treatment for its labour-intensive industries, including textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes and bananas within the proposed trade agreement. The US desires duty reductions on select industrial products, automobiles (particularly electric vehicles), wines, petrochemical products, agricultural commodities, dairy items, apples, tree nuts and genetically modified crops. On April 2 this year, Trump announced reciprocal tariffs on a lot of countries. The execution of elevated tariffs was promptly deferred for 90 days until July 9 and subsequently until August 1, whilst America conducts trade negotiations with various countries. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 15 Most Beautiful Women in the World Undo India and the US aim to finalise discussions for the initial phase of the bilateral trade agreement by September-October this year, with plans for an interim trade arrangement beforehand. Also Read | Russia oil squeeze: Trump's 100% tariff threat - should India panic? India's goods exports to the US increased by 22.8 per cent to $25.51 billion during April-June this fiscal year, whilst imports grew by 11.68 per cent to $12.86 billion. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
NDTV
7 hours ago
- Business
- NDTV
US Team To Visit India In August For Next Round Of Trade Talks
New Delhi: The US team will visit India in August for the next round of negotiations for the proposed bilateral trade agreement between the two countries, an official said on Monday. India and the US teams concluded the fifth round of talks for the agreement last week in Washington. "For the next round of talks, US team will visit India in the second half of August," the official said. India's chief negotiator and special secretary in the Department of Commerce Rajesh Agrawal and Assistant US Trade Representative for South and Central Asia Brendan Lynch held the deliberations. These deliberations are important as both sides are looking at finalising an interim trade deal before August 1, which marks the end of the suspension period of Trump tariffs imposed on dozens of countries, including India (26 per cent). On April 2 this year, US President Donald Trump announced high reciprocal tariffs. The implementation of high tariffs was immediately suspended for 90 days till July 9 and later until August 1, as America is negotiating trade deals with various countries. Issues related to agriculture and automobiles are learnt to have figured during the fifth round of negotiations. Matters related to ways to deal with non-market economies, and SCOMET (Special Chemicals, Organisms, Materials, Equipment, and Technologies) also came up for discussion. On the possibility for an interim trade agreement before August 1, the official said that the talks are going on. India has hardened its position on the US demand for duty concessions on agri and dairy products. New Delhi has, so far, not given any duty concessions to any of its trading partners in a free trade agreement in the dairy sector. Certain farmers' associations have urged the government not to include any issues related to agriculture in the trade pact. India is seeking the removal of this additional tariff (26 per cent). It is also seeking the easing of tariffs on steel and aluminium (50 per cent) and the auto sector (25 per cent). These issues are an important part of the trade pact negotiations. Against these, India has reserved its right under the WTO (World Trade Organization) norms to impose retaliatory duties. The country is also seeking duty concessions for labour-intensive sectors, such as textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas, in the proposed trade pact. On the other hand, the US wants duty concessions on certain industrial goods, automobiles, especially electric vehicles, wines, petrochemical products, agri goods, dairy items, apples, tree nuts, and genetically modified crops. The two countries are looking to conclude talks for the first tranche of the proposed bilateral trade agreement (BTA) by fall (September-October) this year. Before that, they are looking for an interim trade pact. India's merchandise exports to the US rose 22.8 per cent to USD 25.51 billion in the April-June quarter this fiscal year, while imports rose 11.68 per cent to USD 12.86 billion.
Economic Times
9 hours ago
- Business
- Economic Times
US team to visit India in August for next round of talks for trade pact
Representative image. The US team will visit India in August for the next round of negotiations for the proposed bilateral trade agreement between the two countries, an official said on Monday. India and the US teams concluded the fifth round of talks for the agreement last week in Washington. "For the next round of talks, US team will visit India in the second half of August," the official said. India's chief negotiator and special secretary in the Department of Commerce Rajesh Agrawal and Assistant US Trade Representative for South and Central Asia Brendan Lynch held the deliberations. These deliberations are important as both sides are looking at finalising an interim trade deal before August 1, which marks the end of the suspension period of Trump tariffs imposed on dozens of countries, including India (26 per cent). On April 2 this year, US President Donald Trump announced high reciprocal tariffs. The implementation of high tariffs was immediately suspended for 90 days till July 9 and later until August 1, as America is negotiating trade deals with various countries. Issues related to agriculture and automobiles are learnt to have figured during the fifth round of negotiations. Matters related to ways to deal with non-market economies, and SCOMET (Special Chemicals, Organisms, Materials, Equipment, and Technologies) also came up for discussion. On the possibility for an interim trade agreement before August 1, the official said that the talks are going on. India has hardened its position on the US demand for duty concessions on agri and dairy products. New Delhi has, so far, not given any duty concessions to any of its trading partners in a free trade agreement in the dairy sector. Certain farmers' associations have urged the government not to include any issues related to agriculture in the trade pact. India is seeking the removal of this additional tariff (26 per cent). It is also seeking the easing of tariffs on steel and aluminium (50 per cent) and the auto sector (25 per cent). These issues are an important part of the trade pact negotiations. Against these, India has reserved its right under the WTO (World Trade Organization) norms to impose retaliatory duties. The country is also seeking duty concessions for labour-intensive sectors, such as textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas, in the proposed trade pact. On the other hand, the US wants duty concessions on certain industrial goods, automobiles, especially electric vehicles, wines, petrochemical products, agri goods, dairy items, apples, tree nuts, and genetically modified crops. The two countries are looking to conclude talks for the first tranche of the proposed bilateral trade agreement (BTA) by fall (September-October) this year. Before that, they are looking for an interim trade pact. India's merchandise exports to the US rose 22.8 per cent to USD 25.51 billion in the April-June quarter this fiscal year, while imports rose 11.68 per cent to USD 12.86 billion.
Time of India
10 hours ago
- Business
- Time of India
US team to visit India in August for next round of talks for trade pact
The US team will visit India in August for the next round of negotiations for the proposed bilateral trade agreement between the two countries, an official said on Monday. India and the US teams concluded the fifth round of talks for the agreement last week in Washington. Explore courses from Top Institutes in Select a Course Category Data Analytics Data Science healthcare Healthcare Data Science Operations Management Management Digital Marketing Others Leadership others Finance MCA PGDM Degree Public Policy MBA Cybersecurity Technology CXO Artificial Intelligence Product Management Design Thinking Project Management Skills you'll gain: Data Analysis & Visualization Predictive Analytics & Machine Learning Business Intelligence & Data-Driven Decision Making Analytics Strategy & Implementation Duration: 12 Weeks Indian School of Business Applied Business Analytics Starts on Jun 13, 2024 Get Details "For the next round of talks, US team will visit India in the second half of August," the official said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Unsold Container Homes in North Cotabato - Prices You Won't Believe! Shipping Container Homes | Search Ads Search Now Undo India's chief negotiator and special secretary in the Department of Commerce Rajesh Agrawal and Assistant US Trade Representative for South and Central Asia Brendan Lynch held the deliberations. These deliberations are important as both sides are looking at finalising an interim trade deal before August 1, which marks the end of the suspension period of Trump tariffs imposed on dozens of countries, including India (26 per cent). Live Events On April 2 this year, US President Donald Trump announced high reciprocal tariffs. The implementation of high tariffs was immediately suspended for 90 days till July 9 and later until August 1, as America is negotiating trade deals with various countries. Issues related to agriculture and automobiles are learnt to have figured during the fifth round of negotiations. Matters related to ways to deal with non-market economies, and SCOMET (Special Chemicals, Organisms, Materials, Equipment, and Technologies) also came up for discussion. On the possibility for an interim trade agreement before August 1, the official said that the talks are going on. India has hardened its position on the US demand for duty concessions on agri and dairy products. New Delhi has, so far, not given any duty concessions to any of its trading partners in a free trade agreement in the dairy sector. Certain farmers' associations have urged the government not to include any issues related to agriculture in the trade pact. India is seeking the removal of this additional tariff (26 per cent). It is also seeking the easing of tariffs on steel and aluminium (50 per cent) and the auto sector (25 per cent). These issues are an important part of the trade pact negotiations. Against these, India has reserved its right under the WTO (World Trade Organization) norms to impose retaliatory duties. The country is also seeking duty concessions for labour-intensive sectors, such as textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas, in the proposed trade pact. On the other hand, the US wants duty concessions on certain industrial goods, automobiles, especially electric vehicles, wines, petrochemical products, agri goods, dairy items, apples, tree nuts, and genetically modified crops. The two countries are looking to conclude talks for the first tranche of the proposed bilateral trade agreement (BTA) by fall (September-October) this year. Before that, they are looking for an interim trade pact. India's merchandise exports to the US rose 22.8 per cent to USD 25.51 billion in the April-June quarter this fiscal year, while imports rose 11.68 per cent to USD 12.86 billion.
