Business
India may demand exemption in export controls from the US under the proposed bilateral trade agreement (BTA) and access to important technologies similar to its major colleagues like Australia, Britain and Japan. According to sources, India can seek this discount for sectors such as telecom equipment, biotechnology, artificial intelligence (AI), medicine, quantum computing and semiconductor. Additionally, he will also urge the US to make export controls easier.
Tariff exemption found in these sectors
In the proposed agreement, India wants fees concessions on agricultural products such as textiles, gems, vehicles (especially electric vehicles), wine, petrochemical products, dairy and apples. Sources said India may request the US to be considered equal to other major American colleagues like Australia, Britain and Japan, especially making export controls easier in terms of access to technology in important fields such as telecom equipment, biotechnology and AI. Easy access to state -of -the -art technologies in these regions will help India to increase innovation capabilities, strengthen technical infrastructure and accelerate the country’s economic growth.
‘AUKUS’ security agreement
However, the Ministry of Commerce, who is leading the conversation for the agreement on the matter, has refused to comment. According to the Global Trade Research Initiative (GTRI), the US has relaxed export controls to strengthen technology partnership with close colleagues such as Australia, Britain and Japan. Under the ‘AUKUS’ security agreement, the US has simplified the rules for sharing defense and dual -use technology with Australia and Britain, under which these countries will not need personal license for about 80 percent of defense exports from September 1, 2024.
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