Final Push for India-US Trade Deal As US Trade Representative Jamieson Greer Heads For India

United States Trade Representative Jamieson Greer is scheduled to visit India next week for a two-day meeting with Union Commerce and Industry Minister Piyush Goyal on June 23-24. They are expected to discuss issues pertaining to the interim trade agreement between the United States and India. The USTR is expected to land in India on June 22. Earlier, on June 2-4, the US team, headed by its chief negotiator Brendan Lynch, held discussions with Indian officials on finalisation of the deal."Our expectation is that discussions will be centred around giving final touches to the framework deal, which has been discussed during the visit of their (US) delegation,...and also on the larger BTA (bilateral trade agreement), that has also been under discussions between the two sides,"

Commerce Secretary Rajesh Agrawal said, as quoted by news agency PTI.Read More - US Trade Representative To Visit India On June 22 To Finalise Trade Deal: Commerce Secretary

All About India-US Trade Deal

The United States and India had released a joint statement finalising the contours or framework of the first phase of the BTA or an interim trade deal on February 7. According to that framework, the US had agreed to reduce tariffs on India to 18 per cent from 25 per cent and also removed the 25 per cent tariffs imposed on Indian goods for buying Russian oil.

What Piyush Goyal Said on India-US Trade Deal

Earlier this month, Union Commerce Minister Piyush Goyal said that India and the US are moving towards closing all the open ends of the interim trade agreement, and both sides are likely to execute the "very, very vibrant" first phase of the BTA by the middle of next month.India is likely to purchase USD 500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next five years under the agreement.