Continue To Engage With US, Clarity On Next Round Of Trade Talks In Delhi Yet To Emerge: Govt

India and the United States are continuing deliberations to work out a bilateral trade agreement (BTA), a senior official said on Thursday.

The statement comes amid several unconfirmed news reports emerged suggesting a stalemate in negotiations after President Donald Trump doubled the extra tariff on Indian Imports to a staggering 50 per cent.

Clarity about the next round of talks will emerge closer to the scheduled date of August 25, Commerce Secretary Sunil Bartwal said in a press briefing.

“As we reach closer to the date, a clear picture of how the next round will progress will emerge,” he said.

“Both countries remain engaged at various levels, from negotiating teams’ level to that of ministers and the diplomatic channels. We are also engaged with different industries and the US companies and everybody,” Barthwal added.

India Maintains Export Growth

The commerce secretary highlighted that India’s merchandise export grew by 7.29 per cent to 37.24 billion in July this year despite a volatile global policy landscape.

“Major drivers of goods exports in July were engineering goods, electronic goods, drugs and pharma, organic and inorganic chemicals, gems and jewellery,” he stated.

Traders also drove the uptick in goods exports by sending advance shipments ahead of the higher US levies that took effect in August.

Agri-market Access Remains Bone of Contention

India and the US in February decided to finalise the deliberation on the first tranche of the BTA by the fall of 2025.

Both countries planned to expand the bilateral trade volume to $ 500 billion from the current $91 billion, as per a joint statement after a meeting between US President Donald Trump and Prime Minister Narendra Modi.

As both sides engaged in talks over BTA, Donald Trump went ahead and announced a 25 per cent reciprocal tariff on Indian goods for failing to secure a deal before the deadline of August 1.

Later, the US president slapped an additional 25 per cent as a penalty for India’s purchase of Russian oil that will come into effect on August 27.

Greater access to India’s market for agriculture, dairy, and genetically modified products emerged as a point of contention as New Delhi pointed such access could have a detrimental effect on the livelihoods of its farmers.

Reaffirming India’s position, PM Modi, during a rally, declared that he will protect farmers’ interests at any cost.

Also Read: PM Modi To Visit West Bengal On 22 August For Metro Launch And BJP Rally