India-US Trade Talks: Duty relaxations in IT, dairy?
India-US Trade Talks: Sources also told ET NOW that India could push for duty relaxation on Kasturi Cotton-based textile exports to the US. In addition to this, semiconductor collaboration is also on the agenda as India builds its chip manufacturing ecosystem. India is also learnt to open the defence sector for US firms, strengthening bilateral strategic ties.
India-US Trade Talks : The Modi government is moving very cautiously when it comes to the India-US trade chapter, and finalisation of the tax structure on various sectors. The Centre has also formed a committee that is having consultations with the ministries concerned to understand in which sectors the taxes can be relooked.
The US government is also doing a similar sort of exercise. The crucial India-US trade talks are likely to start after the festival Holi and may focus on tariff relaxations, market access, among other things.
India-US Trade Talks
Sources told ET NOW that India and the US are set to begin trade talks after Holi, with a focus on possible steps to end the impasse over the risk of tariffs and improve market access. Further, the final tariff list is unlikely to be released before April 2, shaping the course of negotiations.The committee report on India-US trade discussions is expected to be released by March 15.
India-US Trade Talks: What Modi Govt Wants?
As part of the crucial dialogue between the two nations, India is seeking a US duty concession for textiles, IT services, dairy, and leather goods. The Modi government, on the other hand, may offer the US relaxations in semiconductors, defense, and EV battery technology.
Moreover, civil aviation is also a key area for the India-US trade talks as India aims to boost aircraft manufacturing. Prime Minister Narendra Modi and FM Nirmala Sitharaman had met Boeing officials in January, to explore an aviation collaboration.
Sources also told ET NOW that India could push for duty relaxation on Kasturi Cotton-based textile exports to the US. In addition to this, semiconductor collaboration is also on the agenda as India builds its chip manufacturing ecosystem. India is also learnt to open the defence sector for US firms, strengthening bilateral strategic ties.
The India-US negotiations will set the roadmap for doubling the bilateral trade to $500 billion by 2030. The Trump administration is preparing list of countries with tariff & non-tariff barriers by March 6.
Markets speculate that the US may unveil reciprocal tariffs on India, mirroring its approach to Mexico & Canada. However, India is engaging in discussions with the Trump administration to avert reciprocal tariffs and also seeking to secure terms over fair trade.
Source : Dairynews7x7 Feb 28th 2025 ET Now