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Finance Minister Nirmala Sitharaman on Friday expressed hope that the India-US trade agreement would be concluded at the earliest, in the interest of global trade and bilateral economic ties between the two countries. "I think recently the Indian Commerce Minister has also spoken that they expect and wish to have the agreement signed soon. Negotiations have been going on. I hope, in the interest of global trade and in the interest of trade between the two partners, India and US, the trade agreement gets concluded at the earliest," she said. Commerce and Industry Minister Piyush Goyal on Thursday said the first phase of the India-US trade pact has been finalised and is undergoing legal drafting. On trade with China, Sitharaman said the growing trade imbalance and persistent restrictions on market access for Indian products remained major concerns, despite years of engagement with Beijing. India has consistently sought market access in China for products such as generic medicines, ..
Commerce and Industry Minister Piyush Goyal on Thursday said the first phase of the India-US trade pact has been finalised and is undergoing legal drafting. He expressed hope that it would be finalised soon and operationalised once India secures a competitive advantage over its peer countries. "US bilateral trade agreement's first tranche has been finalised and it is going through final contours, the legal drafting and we hope to be able to finalise that soon and operationalise that once we get the competitive advantage over our peer countries," Goyal said here at an event. He also said that the free trade agreement between India and the European Union will be inked in December and would come into force from February or March next year.
The US and India announced in February that they had reached a framework for an interim trade agreement, but circumstances have changed, and the pact will be finalised accordingly, Commerce and Industry Minister Piyush Goyal said on Saturday. He also said that trade pact negotiations are on with number of regions including Israel, Chile, GCC (Gulf Cooperation Council) and Russia-led group Eurasian Economic Union (EAEU). "USA (trade pact) February me announce hua. Thodi paristhitiyan badli hain, usko abhi madde nazar rakhte hue final hoga. (It was announced in February. Some circumstances have changed; the final decision will be made keeping that in mind)," Goyal said here while addressing members of industry chamber PHDCCI. India is seeking lower tariffs for its goods than its competitors in the American markets. The minister did not elaborate about those circumstances, but the changing tariff landscape in the US has led to further negotiations about the first phase of bilateral tr
Commerce and Industry Minister Piyush Goyal has held bilateral meetings with top officials of a number of US companies and discussed investment opportunities in India. The minister is in the US till October 5. He held meetings with Grant McGee, Executive Vice President and Chief Legal and Compliance Officer at Target. The company is a major US retailer. "Discussed the opportunities for Target to further leverage India's growing manufacturing opportunities under the Make in India initiative, deepen its presence in the country and expand sourcing from India," Goyal said in a social media post. He also met Amit Banati, Executive Vice President and Chief Financial Officer of Mondelez International, a company behind many of the chocolate and biscuit brands. "We discussed Mondelez's seven-decade presence in India and opportunities to expand its manufacturing, sourcing and investments. India's rising consumption and investment-led reforms offer global consumer brands a strong base for g
India-US ties have grown significantly over the past year, with Washington emerging as an important energy supplier to New Delhi as it diversifies its sources, a senior US official has said. US Department of State Deputy Assistant Secretary Bethany Morrison on Thursday said the relationship between the two countries now spans energy, defence, commercial cooperation and multilateral engagements, with South Asia becoming a major priority for the Trump administration. "When you look at India, just over the last year with the US-India partnership, the scale and breadth of that relationship has grown from last year," Morrison said at a roundtable organised at the New York Foreign Press Centre. She also cited the 10-year defence framework agreement between India and the US and new initiatives in the energy sector as examples of the expanding partnership. "India for the first time in 20 years reformed their nuclear regulatory environment by passing the SHANTI Act, and now we're moving ...