India, US trying to iron out issues: MEA on trade deal

As Indian and US negotiators meet in Washington DC to work out a bilateral trade agreement, Ministry of External Affairs spokesperson Randhir Jaiswal on Thursday said both sides remain in contact, though he refrained from giving a timeline for the deal.

“Negotiations are ongoing. Both sides are in touch and working to iron out issues. Once the agreement is finalised, it will be made public,” Jaiswal said at a media briefing.

A high-level team from India’s Ministry of Commerce and Industry arrived in Washington earlier this week for the fifth round of negotiations on the proposed Bilateral Trade Agreement (BTA).

India has taken a firm stand against the US demand for duty concessions on agricultural and dairy products. So far, New Delhi has not extended duty concessions to any of its trading partners in the dairy sector under free trade agreements.

India is also pushing for the removal of an additional 26 per cent tariff, along with easing of duties on steel and aluminium (currently at 50 per cent) and the automobile sector (25 per cent).

The two sides had agreed to aim for a trade deal within this year during a meeting between Prime Minister Narendra Modi and US President Donald Trump in February.