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India is pursuing “fantastic progress” in its trade transactions from the US, said Trade Minister Pius Goyal.
After signing the minister spoke in London A significant transaction on free trade with the UK Thursday.
Goyala’s optimistic statement comes against Washington and Delhi, which miss several terms to complete the deal.
US President Donald Trump has set on August 1 as a term for several countries, including India to sign a trading deal or face steep tariffs.
Trump first announced 26% of the tariffs for Indian goods on April 2 as part of the broader trading policy. While the tariffs were initially suspended until July 9, the United States later extended the deadline until August 1.
Indian delegations have made several trips to the US to finalize the details of the transaction.
Last week, Trump seemed equally optimistic, saying Washington and Delhi were “Very close” before completion Temporary trading agreement. Both countries seek to reach a bilateral transaction by the end of this year.
Speaking to Reuters News Agency on Thursday, Golish – Note The fact that India has made a “fantastic progress” in talks on trade transactions from the United States.
“I hope we will be able to conclude a very next partnership,” he added.
Asked about the main point of signs of India – a decrease in tariffs for agriculture and dairy products – Goyal said that “negotiations are in the negotiation hall.” However, he added that India may continue to continue the comprehensive deal if you can reach smaller industry agreements, Reuters reports.
The minister expressed Similar confidence For Bloomberg, saying that India and the US will agree to the term. However, it remains unclear how they will resolve key issues that have delayed negotiations for months.
Washington has been pushing for more access to the Indian agricultural sector for many years, considering it as the main unused market. But India severely defended this, citing food security, livelihood and the interests of millions of small farmers.
Until recently, the United States was the largest trading partner in India, and the bilateral trade reached $ 190 billion. Trump and Modi set a goal of more than twice as much as $ 500 billion.
India has already reduced tariffs for a number of goods – including whiskey and Bourbon motorcycles – but the United States continues to manage a 45 billion pound trading deficit with India, which Trump seeks to reduce.
