Overview
- India and the US have a negotiated framework for the first phase of a bilateral trade pact but both sides continue talking to turn the framework into an implementable deal.
- New US tariff measures tied to a Section 301 forced‑labour probe have added a 10% duty layer that India says complicates market access and must be resolved in talks.
- A recent two‑member US customs team visited India for technical discussions aimed at addressing operational and customs facilitation issues needed to implement the agreement.
- India is seeking lower US tariff rates for its products than those given to competing low‑cost exporters such as Bangladesh, Vietnam and Cambodia to protect export opportunities.
- Commerce Minister Piyush Goyal said the deal will be one of India’s best and noted growing interest from countries such as Guatemala and Ecuador in separate trade pacts while larger agreements remain not yet operational.