India and the US have concluded the terms of reference for a trade agreement. The agreement will cover all 19 important chapters. Some of the main areas covered in various chapters relate to tariffs, non-tariff barriers, customs procedures, regulatory issues and trade in goods.
The first in-person negotiation round will commence on 23 April in Washington, D.C., in conjunction with the 90-day tariff pause announced by U.S. President Donald Trump earlier this month. The Indian delegation will be led by Rajesh Agrawal, India’s chief negotiator who was recently appointed as the next Commerce Secretary effective October 1, 2023.
Did you miss this News: Vance to Visit India as Trump Escalates Tariff War with China
The talks will last three days to address existing separations and set the groundwork for the agreement. “Both sides will discuss the level of ambition and further develop the ToRs. General contours of the deal and timelines for finalization will also be discussed”, as per the Economic Times.
Such negotiations follow last month’s meetings in India, which included a senior-level delegation with Brendan Lynch, Assistant US Trade Representative for South and Central Asia. Both sides are strong enough to utilize this 90-day opportunity to finalize an interim trade arrangement.
The US is definitely the largest trading partner for India. India accounts for 18 percent of India’s exports to the US, with trade surpluses of $41.18 billion in 2024–25. Both countries were becoming increasingly eager to push for quicker trade talks with the introduction of US tariffs on Indian goods, which began on April 2 and were subsequently postponed.
