New Delhi, Dec 10 (PTI) US Trade Representative (USTR) Jamieson Greer has said the US has received "best" ever offers from India on the proposed trade agreement amid commencement of two-day talks here
between the two countries.
Speaking at a Senate Appropriations Subcommittee hearing on Tuesday in Washington, Greer said that there is resistance in India to certain row crops and other meat and products. Row crops in the US include corn, soybeans, wheat and cotton.
"They have been very difficult nut to crack...but they have been quite forward leaning....the type of offers that they have been talking to us about ...have been the best, we have ever received as a country, so I think that is a viable alternative market," he said.
These remarks are important as both sides are trying to conclude the first phase of the proposed bilateral trade agreement (BTA).
He said that the US team is in India for the trade talks.
US Deputy Trade Representative Rick Switzer is leading the US team here for the negotiations. On the first day here on Wednesday he held discussions with Commerce Secretary Rajesh Agrawal.
Both reviewed the ongoing negotiations for the agreement. The talks are aimed at finalising a mutually beneficial trade pact.
"The two sides exchanged views on matters related to India-US trade and economic ties, including on the ongoing negotiations for a mutually beneficial Bilateral Trade Agreement," the department of commerce said in a social media post.
The talks are important as the Trump administration has imposed a steep 50 per cent tariffs on Indian goods entering American markets.
The Indian industry and exporters are eagerly waiting for conclusion of the negotiations and announcement of the deal as the high import duties are hurting their shipments to America.
Though they are exploring other markets to maintain their export profits, the US is a key destination for them as it accounts for about 18 per cent of the country's exports.
First, the US imposed 25 per cent duty on Indian goods stating trade deficit concerns with India, which stood at around USD 46 billion in 2024-25. Additional 25 per cent penalty was imposed later on India for buying Russian crude.
India has stated that resolution of these tariffs would be key to firm up the first phase of the trade deal.
As part of the pact, the US is seeking duty concessions on agri products like almonds, corn and apples, and industrial goods. India has strongly opposed any concessions on agri and dairy sectors. India has stated that it will not compromise the interests of farmers and MSMEs.
Speaking on the sidelines of Pravasi Rajasthani Divas in Jaipur, Commerce and Industry Minister Piyush Goyal on Wednesday said talks with the US on the proposed bilateral trade agreement are progressing.
"Talks are continuously progressing with them. We are moving forward towards a bilateral trade agreement," Goyal told reporters.
The US' chief negotiator for the pact, Assistant US Trade Representative for South and Central Asia Brendan Lynch is also part of the US delegation. India's chief negotiator is Joint Secretary in the Department of Commerce, Darpan Jain. This is the US officials' second trip since the imposition of high tariffs. They last visited India on September 16.
While noting that the Bilateral Trade Agreement (BTA) will take time, Agrawal had earlier said that India is engaged in protracted negotiations with the US on a framework trade deal that will address the reciprocal tariff challenge faced by Indian exporters.
India and the US are having two parallel negotiations - one on a framework trade deal to address tariffs and another on a comprehensive trade deal. In February, leaders of the two countries directed officials to negotiate an agreement.
It was planned to conclude the first tranche of the pact by the fall of 2025. So far, six rounds of negotiations have been held. The agreement aims to more than double bilateral trade to USD 500 billion by 2030, from the current USD 191 billion.
The US remained India's largest trading partner for the fourth consecutive year in 2024-25, with bilateral trade valued at USD 131.84 billion (USD 86.5 billion exports).
The US accounts for about 18 per cent of India's total goods exports, 6.22 per cent of its imports, and 10.73 per cent of its total merchandise trade.
India's merchandise exports to the US declined for the second consecutive month in October, falling by 8.58 per cent to USD 6.3 billion. PTI RR ANU
ANU
