India & US aim to seal trade deal by year-end: Commerce SecretaryIndia and the United States are holding virtual trade talks and a deal is expected to be locked before year end, Commerce Secretary, Rajesh Agarwal, Commerce Secretary, said on Friday (Nov 28).

Agarwal said both India and the US have held several rounds of talks in the last few months. The Indian official said both the nations have tried to resolve most of the disputes and it is only a matter of time until the two nations announce the deal.

Resolving Tariff Disputes: Key to the India-US Trade Pact

The Commerce Secretary said the Indian side is very optimistic about finalising a trade deal with the US this year itself.

Agarwal’s comments come at a time when global trade is disrupted due to the steep hike in tariffs by the Donald Trump administration. The United States has imposed a 50 per cent import duty on Indian goods entering American markets since August 27.

India and the US are negotiating a bilateral trade agreement. Both the nations have held six rounds of negotiations. New Delhi and Washington have aimed to conclude the first phase of the pact by the fall of this year.

Meanwhile, Commerce and Industry Minister Piyush Goyal said that India at present is negotiating free trade agreements with individual countries and groups of nations totalling about 50.

Goyal said India avibg consultations with its ‘trusted’ trading partners through these agreements to boost economic ties.

“We have all seen trade being weaponised. We have all seen the importance of having trusted partners around the world,” the Commerce and Industry minister said.

Source: News9live

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