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Does India have much to gain from a possible trade deal with the US?

Commerce Department officials have argued that India stands to gain little from such a pact, as import duties for goods entering the US are already among the lowest in the world

BS Web Team  |  New Delhi 

Ahead of a bilateral meeting with Prime Minister Narendra Modi, US President Donald Trump said the two countries will soon sign a limited trade accord, while a free trade agreement will be signed later.

PM Modi said, as far as trade between India and the US is concerned, he is happy that India's Petronet has signed an MoU for an investment of $2.5 billion in the energy sector.

After the meeting, Foreign Secretary Vijay Gokhale said Commerce Minister Piyush Goyal was in New York for discussions on a trade deal.

Modi and Trump’s bilateral meeting, and the US president’s comments on a trade deal between the two countries, came on a day when Trump warned China about its trade practices.

The US has continued to put pressure on India to initiate talks on a full-fledged free trade agreement (FTA) over the past year, but New Delhi has consistently pushed back.

Commerce Department officials have argued that India stands to gain little from such a pact, as import duties for goods entering the US are already among the lowest in the world. Listen to the podcast to know more

First Published: Wed, September 25 2019. 15:40 IST
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