India, US in 'regular contact' on trade deal, says commerce secretary Agrawal
Commerce secretary Rajesh Agrawal said both sides remain committed to the February framework even as Washington weighs further tariff action and probes India’s trade practices.
New Delhi: India and the US continue to hold regular discussions on finalizing their trade deal, according to commerce secretary Rajesh Agrawal. Both sides remain committed to moving forward with the framework agreed in February, despite uncertainties caused by Washington's tariff actions and ongoing investigations. Indian exports to the US increased by nearly 13% to $9.02 billion in July, while imports from the US grew by 18.1% to $5.5 billion.
The US is considering further tariff actions related to Russian oil imports, and Washington is also examining India's trade practices under a Section 301 investigation. Further US legislation targeting countries that continue to buy Russian oil could impose levies of up to 100%. India has submitted its representations regarding the US Section 301 investigation into excess capacity.
Agrawal stated that predictability would be a key outcome of any trade pact, emphasizing the importance of trust in building a successful trade relationship.
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