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Economic Times
01-08-2025
- Business
- Economic Times
Trump-Modi talks key to trade deal: Former Asst USTR
Synopsis A reset in India-US trade talks may be needed, potentially through a conversation between President Trump and Prime Minister Modi, according to Mark Linscott. Despite new tariffs and criticisms from Trump, Linscott sees the situation as a "hiccup," emphasizing the US desire for a short-term agreement followed by a longer-term bilateral trade deal. New Delhi: India-US talks on forging a bilateral trade deal may require a reset through a conversation at the highest level, said Mark Linscott, senior advisor, US-India Strategic Partnership Forum and a former Assistant US Trade said there is a strong desire on the US side to make progress and conclude a short-term agreement, followed by a longer-term bilateral trade deal."At this point, I think a conversation between the President (Donald Trump) and Prime Minister (Narendra Modi) can clear the air and possibly even set the terms for a deal," Linscott, who led trade negotiations under the previous Trump regime, told however, said this may require a cooling-off period once new tariffs are in place, followed by a phone call between President Trump and Prime Minister Modi."I'm a strong believer in never saying never, particularly when it involves the United States and India. We've seen over and over again how Trump can reverse course on a dime," he pointed out. "However, the next few days and weeks will be key in moving on, and I don't even rule out a trade deal along the lines of those with Japan, the EU and Korea during this period," he had on Thursday said India's tariffs are among the highest in the world and slammed its ties with Russia calling both their economies dead, hours after announcing a 25% tariff on imports from New Delhi plus a penalty for trade with Moscow. A US trade team is scheduled to visit New Delhi on August 25 to continue talks on the proposed trade deal. The two sides are engaged in talks for a bilateral trade agreement (BTA), the first tranche of which is to be concluded by October with the aim to more than double the bilateral trade in goods and services to $500 billion by 2030 from the current $191 termed the latest development only a "hiccup" in US-India trade negotiations."...it requires a steady hand on the Indian side to signal that it is committed to continuing negotiations," he said. "But Trump remains a deal maker, and I believe there is a strong desire on the US side to make progress and conclude a short-term agreement and a longer-term bilateral trade agreement, " he added.
Hindustan Times
27-07-2025
- Business
- Hindustan Times
India needs to offer Trump a headline deal: USISF head Mukesh Aghi
India should focus on giving President Trump an eye-catching headline rather than getting stuck in details to seal a trade deal with Washington, says Mukesh Aghi, who heads the US-India Strategic Partnership Forum. In an interview with HT, Aghi said the risk of the trade deal falling through is high as Trump wants a bigger agreement. Edited excerpts: Mukesh Aghi, who heads the US-India Strategic Partnership Forum, said the risk of the trade deal falling through is high as Trump wants a bigger agreement (HT) The India-US trade deal seems to be stuck at the moment. Why is that? India was the first country to start negotiations on the trade deal, compared to other countries, and we made a lot of progress. Last week, commerce secretary Howard Lutnick and US trade representative Jameson Greer gave the proposal to the President. However, the President wanted a bigger deal. When you say a bigger deal, this was a phase one deal. It does not address the issues of agriculture and dairy, which is a red line for India. That's where it is stuck at the moment. I think the challenge is that we are so entrenched in the grain of the deal rather than trying to give a big picture headline to the President since he loves headlines. My recommendation would be that India should tell President Trump that this deal is a 'trillion dollar deal'. We will focus on taking trade between the two countries from $200 billion to $1 trillion. A trillion dollars makes headlines. Then look at Indian companies making investments in the US. Last year we had investments worth almost $12-15 billion. If you just look at the Birla group, they are putting in a $15 billion investment. So we can tell the president that in the next five years, Indian companies will invest half a trillion dollars. We need to give a headline platform, otherwise the deal will get stuck. How real is the risk of the deal falling through? The risk of a deal not moving forward is high. The risk of India having a 26% tariff has implications. It's not just about Indian exports. It's about US companies looking at India for de-risking their supply chains, and if they have to put 26% more tariff, they'll go somewhere else. But if it's 15%, then India becomes more attractive. So the risk factor is not about exports. This risk factor is creating more jobs, getting other companies to come in and invest more in the country. To me, that's a bigger risk. There is concern in Delhi about President Trump. The fear is that India can sign a deal but the President could then threaten tariffs on BRICS nations and the new Russia sanctions bill is also on the table. Can President Trump be trusted to stick to a deal? If you see Trump's record, he reneged on deals with Mexico, South Korea and Japan. So there are no guarantees, but you have to understand the world has changed. It's a world basically driven by the brute muscle diplomacy of the United States and you can't fight that. You can figure out ways to live through that. India has to learn from that perspective. President Trump has also spoken of placing tariffs on pharma exports, including on Indian firms. Your view? This is true, but you have to understand one thing. After the cuts to government programmes Medicare and Medicaid, cheap prescription drugs are very critical for Trump's base. Today, 40% of prescription drugs come from India, and if you take that cost up by putting tariffs, that's going to hurt Trump's base. So I don't think the objective is to target that segment of the drug market. They're more focused on the devices coming from Europe. What do you make of the recent volatility in the India-US relationship? The relationship is as good as it was. What is happening is we are reacting to some of the statements being made by the President. We need to have a thick skin. We can't be thin-skinned and react to it. He makes the same statements for his closest allies including Japan, France, Canada and India should not react to it. The relationship is not just with the White House, it's also the larger administration. It's with the Congress, it's with the business community, it's with the Indian diaspora. It's a relationship based on technology. So the relationship is much broader, we should not react if a president makes a statement and his statement changes on the hour. Some believe India should wait out President Trump. His party is expected to lose its majority in the House of Representatives next year and his powers will be more curtailed. Your view? That's the wrong strategy. We need to be proactive. When the President said he brokered the ceasefire between Pakistan and India, instead of being defensive, we should say we will nominate him for two Nobel Prizes. You have to understand that the whole game has changed, and you have to change your approach. Trump has made statements about brokering the ceasefire between India and Pakistan. I believe he said that statement 25 times, and we keep defending this 25 times. We need to move on. Waiting out is not the answer, because you have US companies thinking of making critical decisions on de-risking the supply chain from China and if India has a lower tariff and a deal with the US, then they will look at India because neighbouring countries and competitors could have higher tariffs.
United News of India
17-07-2025
- Business
- United News of India
Taranjit Sandhu joins USISPF as advisor and geopolitical institute chair
New Delhi, July 17 (UNI) Ambassador Taranjit Singh Sandhu, veteran diplomat of nearly four decades and former Indian envoy to Washington, joined the US-India Strategic Partnership Forum (USISPF) as Advisor to the Board and will be the chairman of the USISPF Geopolitical Institute. In his new role, Ambassador Sandhu will lend his diplomatic acumen to guide USISPF's strategic engagements on the India-Middle-East-Europe-Economic Corridor (IMEC), the Indo-Pacific Quadrilateral Security Dialogue (Quad) and the I2U2 (India, Israel, USA, and UAE) initiatives. Ambassador Sandhu worked closely with USISPF during his four-year tenure in Washington, before calling time on his decorated 35-year diplomatic career in February 2024. As one of New Delhi's finest diplomatic stalwarts, Ambassador Sandhu was a key architect in strengthening US-India relations through his four stints in the United States, three of them in Washington, D.C. Commenting on his new appointment, Ambassador Sandhu remarked: 'I am delighted to join the US India Strategic Partnership Forum as Chairman of its Geopolitical Institute. I have had the opportunity to work on as well as follow the India-US story for over three decades. The relationship has evolved into a Comprehensive Global Strategic Partnership, underpinned by shared values and interests, matured in character and nurtured by the vibrant people-to-people ties between the two countries." "Prime Minister Modi and President Trump have imparted renewed vigor through the India-US COMPACT that focuses on key sectors including defence, technology, energy and trade. USISPF, led by Mukesh, has played a significant role in forging closer ties between the governments, industry, innovators and academia of India and US," Ambassador Sandhu added. "As we navigate through an increasingly uncertain world, I look forward to contributing meaningfully in the new role, towards further deepening this most consequential partnership," he said. Under his diplomatic stewardship, US-India relations reached zenith with deep collaboration in the fields of energy, critical and emerging technology, education, space and robust defense ties, with the highlight being the historic state visit of Prime Minister Narendra Modi in June 2023, President Joe Biden's first visit to India as Commander-in-chief for a momentous G20 summit in New Delhi, and also organizing President Trump's maiden visit to India during his first term in February 2020, before the world shut down with the COVID-19 pandemic. Ambassador Sandhu, previously served in Washington as second in command to Dr Jaishankar, when he was then the serving Ambassador and Ambassador Sandhu was the Deputy Chief of Mission. Together, they both wrote the beginning chapters of Prime Minister Modi's engagement with the United States with the historic Madison Square Garden address in 2014. 'The most important strategic partnership of the 21st century, one between Washington and New Delhi, requires the art of deft diplomacy and sagacious statecraft. New Delhi has always sent its brightest minds to Washington, but few have come more experienced in understanding the contours of US-India relations than Ambassador Sandhu, who in his first stint in Washington, as the First Secretary (Political) as he formed crucial relations on Capitol Hill, with both Democrat and Republican lawmakers, during a time of sanctions from the Clinton Administration," said Dr. Mukesh Aghi, president and CEO of USISPF. 'Today, this relationship is the most defining partnership of the 21st century and one that has been made possible with sagacious diplomats such as Ambassador Sandhu, who have worked on strengthening ties from semiconductors to supply chains, energy to education and defense drones to diaspora dialogues. Having worked closely with Ambassador Sandhu during his diplomatic days, I am eager to engage with him in this new avatar, this time with his new USISPF hat," Mukesh Aghi added. With the Indo-Pacific a priority, Ambassador Sandhu will lend to USISPF's work in the Quad, as four democracies strengthen defence ties, vaccine diplomacy in healthcare, energy partnerships, and critical and emerging technology. With the importance of regional stability and energy economy of West Asia, the key focus lies in strengthening infrastructure, supply chains and economic corridors through the IMEC. The I2U2 came into existence during Ambassador Sandhu's time as the lead envoy in Washington, and USISPF remains grateful for his diplomatic erudition in guiding our efforts to strengthen commercial ties through multilateral settings. UNI AAB PRS
India.com
13-07-2025
- Business
- India.com
Big Gain for Kumar Mangalam Birla, USISPF appoints Aditya Birla Group Chairman as…, he will also be serving…, company to invest Rs 342000000000 in…
Masterstroke by Kumar Mangalam Birla New Delhi: In a major development, Aditya Birla Group Chairman Kumar Mangalam Birla has been appointed to the Board of Directors of the US-India Strategic Partnership Forum (USISPF). According to the statement issued by the USISPF, Kumar Mangalam Birla will be serving as a member of the Board's Executive Committee, the USISPF said on Friday. Aditya Birla Group is the largest Indian greenfield investor in the United States, with investments exceeding USD 15 billion and operations spanning 15 states across metals, carbon black, and chemicals. Honour to join the USISPF: Kumar Mangalam Birla 'It is an honour to join the USISPF Executive Committee. In a short span, USISPF has become a strong force in shaping and strengthening the strategic and economic ties between the United States and India. Its work in fostering dialogue, collaboration, and trust between the two nations has made a meaningful difference,' said Birla. It is important to note that Aditya Birla Group's US subsidiary, Novelis, is the world's largest aluminum recycling company and plays a pivotal role in revitalising and advancing the US manufacturing sector. Aditya Birla Group's Ambitious Projects Among the Group's most ambitious projects is a USD 4.1 billion investment in Bay Minette, Alabama, which will establish the first fully integrated aluminum rolling and recycling plant in the US in four decades and represents the largest industrial investment in Alabama's history. John Chambers, Chairman of USISPF and Founder and CEO of JC2 Ventures said, 'Birla joining the Executive Committee will help steer USISPF to new horizons and uncharted paths, as we continue to grow and define this accelerated partnership.' USISPF is a non-profit, non-governmental, and non-partisan organisation with offices in Washington, D.C. and New Delhi. USISPF's members include global companies with a combined market valuation of over USD10 trillion and more than 6 million employees.
India Gazette
30-06-2025
- Business
- India Gazette
"Will hear from President and his trade team soon when it comes to India": White House spokesperson
By Reena Bhardwaj Washington DC [US], July 1 (ANI): White House Press Secretary Karoline Leavitt on Monday (US local time) confirmed that the US and India are close to finalising a trade agreement, following President Donald Trump's earlier announcement about the deal. Speaking at a press briefing, Leavitt responded to a question from ANI and said, '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.' Her remarks follow President Trump's recent statement expressing optimism about securing a trade deal with India. While addressing a question on reciprocal tariffs, Trump said the US was seeking 'full trade barrier dropping' and greater access to the Indian market, though he admitted uncertainty about achieving that goal. 'India, I think we are going to reach a deal where we have the right to go and do trade. Right now, it's restricted. You can't walk in there, you can't even think about it. We are looking to get a full trade barrier dropping, which is unthinkable and I am not sure that that is going to happen. But as of this moment, we agree that going to India and trade...' Trump said. Last week, during a public event, Trump had also said, 'Everybody wants to make a deal and have a part of it. Remember a few months ago, the press was saying, 'Do you really have anybody of any interest?' Well, we just signed with China yesterday. We have one coming up, maybe with India. A very big one, where we're going to open up India.' Earlier in June, US Secretary of Commerce Howard Lutnick had expressed confidence that a trade agreement between India and the United States would be finalised soon. Speaking at the US-India Strategic Partnership Forum, Lutnick said, 'I think we are in a very, very good place, and you should expect a deal between the United States and India in the not-too-distant future because I think we found a place that really works for both countries.' When asked if he was hopeful about the outcome, Lutnick said he was 'very optimistic.' Meanwhile, Union Commerce and Industry Minister Piyush Goyal said on June 10 that India and the US are negotiating a fair and equitable trade agreement that would benefit both economies. Addressing a press conference, Goyal said, 'PM Narendra Modi and US President Trump met in February 2025... Both our leaders have decided to enter into a bilateral trade agreement which will be mutually beneficial for both the economies, businesses on both sides, and the people of both countries. We are negotiating to make a nice, fair, equitable, and balanced agreement to promote business.' He also described the two countries as 'very close friends, allies and strategic partners,' and said the deal would further strengthen the bilateral relationship. With less than two weeks left before the critical July 9 deadline, both sides are working to finalise the Bilateral Trade Agreement (BTA) during the 90-day pause on tariff escalations. Government sources earlier emphasised that India's national interests will remain paramount in ongoing negotiations, even as both nations work intensively to reach an interim deal before the deadline expires. The negotiations had hit roadblocks, with the US maintaining its demands for substantially reduced duties on American agricultural and dairy products, along with market access for genetically modified (GMO) crops. Indian is apparently not keen on these proposals, citing concerns over food security, environmental protection, and the welfare of its domestic farming sector. (ANI)
