The Ministry of External Affairs declared on Friday that the India-US trade agreement seeks to cut barriers including tariffs and non-tariffs and increase market entry opportunities and supply chain network integration.
The discussions between India and United States at MEA focus on increasing bilateral trade of goods and services through an agreement beneficial to both parties.
The leaders announced their trade agreement commitments when Modi visited the US last month according to him.
During his response to media questions about Trump administration threats of new Indian trade barriers in the market Jaiswal explained the situation.
Union commerce minister Piyush Goyal consecrates his recent US trip towards advancing the trade agreement development.
As per Jaiswal both governments are collaborating to expand commercial market dealings between goods and services and to lower restrictions and eliminate trade barriers while deepening their supply chain networks.
India formally shared its profound worries regarding a security incident which occurred while external affairs minister S Jaishankar was in the UK with government personnel there.
During his departure from Chatham House S Jaishankar experienced a tense moment because Khalistani extremists attempted an attack while he was exiting from his discussion at London.
Khalistani protesters displayed flags while shouting anti-Jaishankar speeches in front of the meeting location. ANI reported that extremist supporters of Khalistan disrupted his presence during his official appearances.
Such groups should not abuse democratic freedoms. The diplomatic governing body must honor its entire set of diplomatic duties toward us according to Randhir Jaiswal.
India made an official request to the UK government in April 2023 to enhance their surveillance efforts against supporters of the Khalistan movement following the protest incident.
The Prime Minister Narendra Modi will lead Indian forces and a Navy vessel during the National Day celebrations in Mauritius according to Jaiswal.
India-US trade negotiation
Trump’s comments come as India and the US bolstered their talks on a Bilateral Trade Agreement (BTA), reducing tariff as well as non-tariff barriers. Mr. Randhir Jaiswal, spokesperson of the Ministry of External Affairs, confirmed that during the recent visit of Indian Prime Minister Narendra Modi to the US, both said the same thing about working towards a trade deal that would boost market access and further integrate supply chains.
“As far as the BTA is concerned, we aim to fortified as well as deepen Indo-US two-way trade across goods and services sector, increase market access, reduce tariff and non-tariff barriers and deepen supply chain integration between the two countries,” said Jaiswal on Friday, just before Trump’s comments.
Commerce Minister Piyush Goyal is in the US at present for talks with US officials regarding potential progress in negotiations.
Finance minister Nirmala Sitharaman said earlier in the week that government departments were closely monitoring these ongoing negotiations, especially against the backdrop of the approaching April 2 deadline for reciprocal tariffs, as imposed by the Trump administration.
“Reciprocal tariff is something about which the US President has been talking about. Commerce Minister Goyal has already gone to the US and will be talking with the US Commerce Secretary and the US Trade Representative, and based on the negotiations, he will come back and then we will take a call,” Sitharaman said on Thursday.
She added that India would keep its interests at top, stating, “It is only as we progress through the negotiations that we will be able to make an assessment but we do keep Indian export interests in mind. At the moment, we are seized of the problem.”
$500 billion trade target
The US has long pressed for New Delhi to begin narrowing its trade deficit, now around $45 billion. In fact, the two sides aspired to settle a comprehensive trade deal before the end of 2025 and envisaged ambitious $500 billion bilateral trade in goods and services annually by 2030. Achieving this would require “new, fair-trade terms,” and leaders have set a target to negotiate the first phase of the BTA by fall 2025, according to a joint statement from the Modi-Trump talks.
During India’s most recent Union Budget for the year 2025-26, tariff reductions were declared for essential US exports such as bourbon whiskey and wines, apart from electric vehicles.
Washington has called for New Delhi to raise imports of US oil, gas, and military supplies from those countries as part of the trade balance that Trump calls his “america first” policy.
With inputs from PTI, Reuters.
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