India is keen to accelerate discussions for a trade agreement with the United States, as indicated by a government representative, following President Donald Trump’s announcement on April 10 to halt reciprocal tariffs on several nations while increasing duties on China. In February, India and the U.S. committed to finalizing the initial phase of a trade deal by the year’s end, aiming for a target of $500 billion in bilateral trade by 2030.
India was among the first nations to engage in negotiations for this agreement with the U.S. and to establish a mutual deadline for its completion. India has aligned itself with the U.S. by emphasizing that manufacturers in both countries have suffered due to China’s unfair trade practices over the years. The official also noted that India will enhance its scrutiny of imports to detect any potential dumping of goods, particularly from China. The suspension of additional tariffs is especially advantageous for Indian shrimp exporters, who have struggled to compete with countries like Ecuador, according to the official. Other sectors affected by U.S. tariffs include electronics, valued at nearly $14 billion, and gems and jewelry, exceeding $9 billion. Ajay Sahai, Director General of the Federation of Indian Export Organisations, which represents over 37,000 exporters, remarked that the 90-day suspension provides Indian negotiators with the opportunity to finalize a bilateral trade agreement with the U.S. He added that the U.S. seems resolute in its approach towards China, and if it aims to maintain a consistent supply of goods for its consumers while controlling inflation, India stands out as one of the most dependable suppliers.
