Ahead of a meeting with US Trade Representative Jamieson Greer, Union Commerce and Industry Minister Piyush Goyal on Monday said the 50 per cent duty on the country’s imports was one of the reasons why the trade agreement with the United States was taking longer to finalise.
Speaking at a media conference in New Delhi, Goyal said India hopes to secure preferential access through the trade agreement with the United States.
Earlier in the day, US Ambassador to India Sergio Gor said Greer would hold multiple meetings with Goyal this week to move the proposed Bilateral Trade Agreement (BTA) closer to conclusion ahead of a crucial tariff deadline next month.
On his official X handle, Gor wrote: “Looking forward to welcoming Ambassador Greer @USTradeRep to New Delhi! Multiple sessions scheduled with Minister @PiyushGoyal to advance the U.S.-India trade deal!”
Greer is set to meet Goyal to finalise the framework for the first phase of the proposed bilateral trade agreement ahead of the key tariff deadline next month.
The ministerial-level meeting comes amid ongoing talks between India and the United States to reach an interim trade agreement, which is expected to pave the way for a more comprehensive bilateral trade deal.
On Sunday, Goyal announced that his US counterpart would be arriving in New Delhi for negotiations on the trade agreement. “My counterpart is coming to Delhi tomorrow for the US trade deal talks,” the minister had said.
Earlier, Commerce Secretary Rajesh Agrawal said discussions between the two countries were expected to focus on completing the framework agreement and advancing negotiations on the broader trade pact.
Goyal expressed confidence that the first phase of the BTA could be completed by the middle of next month and said India and the United States were working to resolve all outstanding issues under the interim trade agreement.
The negotiations assume significance as the United States’ temporary 10 per cent tariff on all its trading partners is due to expire on July 24.
