Very close to positive outcome: India-US trade deal expected to cross finishing line soon
Recently, India and the EU signed the historic Free Trade Agreement (FTA) deal. It would give India access to more markets to sell its goods. The documents were signed in the presence of Prime Minister Narendra Modi, Ursula von der Leyen, and the President of the European Council.
New Delhi: The ongoing trade deal talks between India and the United States have been the subject of intense discussion amid a strained relationship between the two nations.
In the latest development, a report by NDTV states that both nations have made very significant progress on the trade deal talks and are very close to a positive outcome. Recently, India hit the headlines for its massive free trade agreement with the European Union.
India-EU deal took place on its own merit
The report states that the EU deal was driven by bargaining tactics in relation to Washington. It adds that India closed the EU deal on its own merits, and it did not take place as a reaction to parallel negotiations with the US. The government is reportedly focused on the trade deal with the US, and considers the American market as important, with trade negotiators of both sides being in constant touch.
India-US negotiations robust
The report further says that India's trade strategy is a response to a fragmented global trading system with more countries opting for bilateral and plurilateral ties with major partners. Centre has treated the trade deals with the EU and the US as separate entities, with a focus on growing exports to both places, as they would support jobs and investment at home.
As per the report, the negotiations between India and the US have been "robust" and ongoing, and will be concluded soon. It adds that India will pursue "multiple bilateral negotiations" in parallel.
Historic FTA deal between India, EU
Recently, India and the EU signed the historic Free Trade Agreement (FTA) deal. The government sealed the 'Mother of All deals' FTA pact with visiting European Commission President Ursula von der Leyen and European Council President António Costa.
The documents were signed in the presence of Prime Minister Narendra Modi, Ursula von der Leyen, and the President of the European Council. After signing the documents, PM Modi, Leyen and Costa issued a joint statement. India's FTA deal with the EU comes at a time when the US President Donald Trump has imposed high tariffs on goods entering the country. The deal would give India access to more markets to sell its goods.