India’s concessions for US trade deal
Business & Economy: In a significant move to strengthen trade ties with the United States, India has reportedly proposed a "zero-for-zero" tariff offer on select American imports, including steel, auto components, and pharmaceuticals.
In a significant move to strengthen trade ties with the United States, India has reportedly proposed a "zero-for-zero" tariff offer on select American imports, including steel, auto components, and pharmaceuticals. Reports suggest this proposal is aimed at accelerating the conclusion of a bilateral trade agreement with Washington before autumn.
India backs tariff-free deal with US
The duty-free access would apply only to imports within a specified quota, while volumes beyond that would face standard Indian tariffs. The Indian delegation reportedly presented this offer during trade discussions in Washington in late April. The proposal is seen as a strategic response to recent US tariff announcements.
However, in a shift on April 9, he paused their implementation to allow room for negotiations with key partners that includes India. Current trade discussions suggest positive momentum, with the US reportedly showing interest in finalising new deals under its revised tariff regime.
While no formal agreements have been reached yet, India is emerging as a priority in Washington’s trade strategy, alongside countries like Japan and South Korea. With trump’s deadline for implementing the paused tariffs approaching soon, the pressure is mounting to seal agreements quickly.
The India-US trade deal, if finalised, could offer substantial benefits for both sides by easing market access and protecting key domestic industries from future trade barriers. The deal would mark a critical step forward in India-US economic relations, fostering greater cooperation in industrial sectors.
(With inputs from the agencies)
