India Strategizes to Boost US Trade Amid Tariff Tensions

Union Minister Piyush Goyal emphasized India's strategic approach to US tariffs, aiming to multiply trade by 2.5 times. Bilateral relations have been prioritized by India's Prime Minister and the former US President. The pause on tariffs excludes China, stressing India's proactive trade ambitions amidst evolving global economic dynamics.

Union Commerce and Industry Minister Piyush Goyal announced India's strategic approach to addressing US reciprocal tariffs while aiming to substantially increase its trade volume with the United States. Speaking in Mumbai, Goyal expressed confidence in India gaining an edge in ongoing discussions to enhance bilateral trade relations.

Emphasizing priorities set in February by Prime Minister Narendra Modi and former US President Donald Trump, Goyal reiterated their commitment to fortifying bilateral ties through a comprehensive trade agreement. This deal, anticipated to boost trade to around USD 500 billion, could provide significant economic advantages and job creation.

While President Trump recently stalled his reciprocal tariff plan excluding China, which faces a significant increase on import taxes, Minister Goyal reassured industry stakeholders of India's dedication to reinforcing its trade strategy. He projected optimism that these efforts will significantly contribute to India's future economic goals, particularly Viksit Bharat 2047.

(With inputs from agencies.)