India Races to Seal US Bilateral Trade Pact Amid Tariff Concerns

The Indian industry is eager to finalize a bilateral trade agreement with the US to avoid potential reciprocal tariffs. Talks are in progress, but fears of imminent tariffs loom. An exemption is sought to ensure seamless trade, with tariffs potentially risking jobs and exports.

The Indian industry is in a state of high alert over the USA's looming reciprocal tariffs, pushing for the early conclusion of a bilateral trade agreement, according to industry sources on Wednesday.

Sources indicate ongoing negotiations for the bilateral trade agreement are progressing but emphasize the urgency for a swift resolution to prevent US reciprocal tariffs from negatively impacting jobs and exports.

Exporters argue that exempting India from these tariffs could further streamline bilateral trade. Despite the talks, think tank GTRI believes an exemption from Trump's envisioned tariffs is unlikely, due to his stance on India's tariff policies.

(With inputs from agencies.)