India 'Very Close' To Trade Deal With US, Says Union Trade Minister Piyush Goyal
New Delhi wants to ensure it has a competitive advantage over its peers and cannot enter the deal until that framework is finalised, he said.
Quick answers to key questions
.5 QUESTIONS1What is the current status of the trade deal between India and the US?⌵India and the US are very close to finalizing a trade agreement, as stated by India's Commerce and Industry Minister Piyush Goyal.
2Why does India want to ensure a competitive advantage in the trade deal with the US?⌵India seeks to have a competitive advantage to navigate its negotiations effectively and secure beneficial terms before finalizing the trade deal.
3How have recent changes in US tariff policy affected the India-US trade negotiations?⌵Changes in US tariff policy, including the Supreme Court striking down significant tariffs, introduced uncertainty into the implementation of the trade agreements under negotiation.
4What key elements are being discussed in the ongoing India-US trade negotiations?⌵The negotiations focus on enhanced market access, digital trade, supply chain resilience, and reducing non-tariff barriers.
5Should India and the US conclude their trade agreement by the July 24 deadline?⌵Yes, concluding the agreement by the July 24 deadline is essential, as it aims to replace a temporary tariff regime imposed by the US.
(With inputs from Reuters)
(This is a developing story; check back later for updates)
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