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India Confident of Special Treatment in US Trade Talks
India’s ongoing trade negotiations with the United States have entered an advanced stage, with Commerce Minister Piyush Goyal expressing optimism about the outcome. Speaking to reporters this week, Goyal said five rounds of talks have already taken place and that discussions are progressing at a “fantastic” pace.
India Pushes for Preferential Access
Goyal stated that India was the first country to engage with the US on a bilateral trade agreement and that it expects preferential treatment because of this early initiative. According to him, the Indian delegation is pushing hard to secure favorable terms, particularly in sensitive sectors such as agriculture, dairy, and metals. Tariff relief on goods like steel, aluminium, and automotive components also remains a key demand.
August 1 Deadline Looms
Both countries are racing against an August 1 deadline, after which new tariffs could be imposed on Indian exports if no agreement is reached. Indian negotiators have made it clear that a full-scale agreement is ideal, but sector-wise mini-deals are also being explored if certain issues remain unresolved.
Possible US Delegation Visit
A high-level US trade delegation is expected to visit India in August to continue the talks. Negotiators on both sides are reportedly exploring phased approaches to the agreement if a comprehensive pact isn’t ready in time. This flexibility is aimed at preventing any trade disruptions while still allowing further negotiations.
Strategic Significance
The trade deal is considered critical for India as it aligns with its wider strategy of strengthening global trade ties. With similar pacts recently signed with the UK and in progress with the EU, the US deal is expected to boost India’s manufacturing and export sectors significantly.
