The chief negotiaters of India and the United States have started dialogue on the proposed trade agreement on Tuesday. It will make efforts to resolve the issues in view of heavy charges that create uncertainty for exporters. An official gave this information.
Brandon Lynch, auxiliary American trade representative for South and Central Asia, is leading the American team, while Special Secretary in the Department of Commerce Rajesh Agarwal is the chief negotiator of India.
Lynch arrived in India late Monday night for a one -day talks with his Indian counterpart.
This is the first visit of a highly placed American business officer after a 25 percent fee and 25 percent additional fine on Indian goods entering the US market to buy Russian crude oil.
The official said, “Business talks have started.”
India has described the heavy duty of 50 percent as unfair.
In February, the leaders of the two countries directed the officials to interact on the proposed bilateral trade agreement (BTA). The first phase of the agreement was planned to be completed by the autumn of 2025. So far, five rounds of talks have been held and the sixth round of talks, which were to be held by August 25-29, were postponed after the high import duty was imposed.
A senior Commerce Ministry official said that the meeting between Lynch and Indian officials should not be seen as a sixth round of talks, but as a prior dialogue.
The official also said that India and America are discussing virtual medium on weekly basis.
Prime Minister Narendra Modi had warmly reacted by US President Donald Trump to positive evaluation of trade relations between the two countries. This is being talked about for a few days.
While defending the purchase of crude oil from Russia, India has been saying that its energy purchase is inspired by national interest and market dynamics.
The government has repeatedly emphasized that it will protect the interests of its farmers, dairy producers and MSMEs in all business agreements.
