India america trade deal
India and the United States are showing a boom over their proposed bilateral trade agreement (BTA). The initial draft (reference conditions) by the two countries for this agreement has about 19 chapters. According to government sources, these include important issues such as import duty, goods trade, non-fee obstacles in trade and making customs duty processes easy. A team of Indian authorities is going to visit the US next week to further the conversation. This tour is important so that some remaining differences can be removed within 90 days before the formal negotiations on the proposed BTA. This 90-day deadline has been kept because during this time the two countries have decided not to put ‘counter-tariffs’ on each other’s products.
Rajesh Aggarwal will lead India
This conversation from India will be led by Additional Secretary of the Department of Commerce, Rajesh Aggarwal, who has recently been appointed the next Commerce Secretary and will hold his new post from 1 October. The first face-to-face conversation between the officials of the two countries will start in Washington on Wednesday (April 23) and will run for three days. An official said that in this meeting both sides will discuss the level and ambition of the agreement. In addition, the conditions conditions will be further developed and they will be talked in detail. In which direction the conversation will move forward, it will also be discussed. The conditions will include subjects such as fees, non-fee barriers, rules of origin of products and legal matters.
Target has to be finalized in 90 days
The official also said that the outline of the agreement and the deadline will also be discussed, so that it can be finalized within 90 days. This three-day deliberations are important because a senior government official earlier said that if both India and America benefits, the interim trade agreement can be finalized in the 90-day fee break declared by the Trump administration.
American team came to India recently
The tour is taking place within a few weeks of recent visit to India by a high-level American team, which shows that the conversation for BTA is fast. Last month too, there was a conversation between senior officials of the two countries, in which American trade representative for South and West Asia, Brendan Lynch discussed important business issues with Indian officials from 25 to 29 March. The two countries want to take advantage of the 90 -day fee postponement declared by US President Donald Trump on 9 April. Earlier, on April 15, Commerce Secretary Sunil Barthwal said that India would try to complete talks with the US as soon as possible and has decided to liberalize the trade with the US.
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