India-USA trade deal: Indian Minister of Commerce will be talking to USTR Lighthizer in a short time; exemption from high duties imposed on Aluminium is among the priority

On 25^th June, Piyush Goyal, Indian Minister of Commerce and Industry said: “Will be talking to USTR Robert Lighthizer in the next few days to quickly wrap up initial aspects of the proposed trade deal, which is under negotiations.”

“India and the US are negotiating a trade deal to iron out differences and promote two-way commerce.”

The Commerce and Industry Minister stated that he is in regular dialogue with US Trade Representative (USTR) and US Commerce Secretary Wilbur Ross.

Piyush Goyal said: “I think Mr Wilbur Ross and I will be meeting with businessmen of both the countries sometime in the middle of July and going to be talking to my US counterpart also in the next few days… to quickly wrap the first immediate aspects of the trade deal that is already in discussion and look forward towards a more detailed, exhaustive and all-encompassing trade agreement between India and the US.”

“These things would help both the countries to expand trade and investment relations”, he said.

India is demanding exemption from high duties imposed by the US on aluminium and certain other products, revision of export benefits to certain domestic products under their Generalised System of Preferences (GSP), and greater market access for its products from sectors like agriculture, automobile, auto components and engineering.

The US, on the other hand, wants greater market access for its farm and manufacturing products, dairy items and medical devices, data localisation, and cut on import duties on some information and communication technology (ICT) products.

Goyal said: “India offers 1.3 billion market and skilled manpower to the US.”

“The skilled manpower is well-educated and fits into the needs of the US businesses whether it is working from home in India or working in the US to support American firms”, he added.