Business
India to Refine US Trade Deal as Conditions Shift, Says Commerce Minister
Reported by Shreya Kapoor (Senior Writer) · The Hindu - Business ·
Confirmed by a second source: Business Standard - Top Stories
India will finalize the pending trade pact with the United States after taking new conditions into account, Commerce Minister Piyush Goyal said on Saturday. He noted that the framework announced in February has to be adjusted because the tariff environment in the U.S. has shifted, and India is pushing for lower duties on its exports than those faced by rival suppliers. Goyal did not give details of the changed circumstances but said the first phase of the bilateral trade agreement will be renegotiated accordingly. Negotiations are also under way with several other regions. Talks are active with Israel, Chile, the Gulf Cooperation Council and the Russia‑led Eurasian Economic Union. The minister added that discussions with Canada are progressing faster, that a deal with the South African Customs Union will begin soon, and that talks with Mexico are slated to start next week. He said trade ministers from the United Kingdom and Canada will visit India shortly; the UK and India already signed a trade pact in July, and the UK minister will attend the India‑UK Joint Economic and Trade Committee meeting. Earlier this month Goyal met U.S. Trade Representative Jamieson Greer on the sidelines of the G20 trade ministers’ gathering in Milwaukee, where they exchanged views on the pending agreement. On the domestic front, Goyal condemned Congress leader Rahul Gandhi’s remarks after a meeting with President Droupadi Murmu, calling the conduct “objectionable” and saying it showed a “sense of anarchy.” He also said opposition leaders had behaved poorly toward security personnel. ## Context The United States is revising tariff policies that affect many trading partners, prompting India to seek better market access. The UK‑India trade pact signed in July aims to deepen economic ties, while the upcoming talks with other blocs reflect India’s broader strategy to diversify its trade network.
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