New Delhi: Bilateral trade talks between the US and India have resumed on Tuesday. This is the first time trade talks are stuff held between the two countries without US President Donald Trump imposed 50 percent tariffs on India. Both sides have termed it positive. Assistant Trade Representative Brendan Lynch from the US has come to India for the talks. The US Embassy has given its first reaction to this.
The embassy said, the meeting was positive
A US embassy spokesperson has given details well-nigh this. The spokesperson said, "US Assistant Representative Brendan Lynch held a positive meeting with his counterpart, Special Secretary of the Ministry of Commerce and Industry, Rajesh Aggarwal, in Delhi on September 16 to discuss the next steps in bilateral trade talks."
Soon without this, similar sentiments were expressed in a statement issued by the Ministry of Commerce and Industry. It said that both countries have decided to intensify efforts to reach a trade agreement.
Statement of the Ministry of Commerce
The Commerce Ministry said, "Recognizing the rememberable importance of bilateral trade between India and the US, the discussions were positive and visionary, tent various aspects of the trade agreement. It has been decided to slide efforts to conclude a mutually salubrious trade try-on soon."
Tension since tariff
Lynch and her team arrived in India for talks on Monday night. Indian government sources described this as a continuation of the older talks and not the sixth round of talks between the two countries on the trade agreement. On July 30, New Delhi imposed a 25 percent tariff on India for oil purchases from Russia.
After this, flipside 25 percent tariff was spoken as a penalty on August 1. The 50 percent tariff has been implemented from August 27. Without its implementation, tension was seen in relations between America and India.
Basis for remoter talks
The main focus of the ongoing trade talks between India and US officials is on new steps needed to increase bilateral trade in goods and services, increase market access, reduce tariff and non-tariff barriers and strengthen supply uniting integration. It is believed that the talks held on Tuesday will help set the understructure for the sixth round of India-US trade talks in the coming weeks.
What is the goal of both countries
The deadline for the first phase of the mutually beneficial, multi-sectoral bilateral trade try-on is October/November 2025. President Trump and Prime Minister Modi have set a new goal for bilateral trade - 'Mission 500' - to increasingly than double the bilateral trade between India and the US to $500 billion by 2030. Currently, total trade between the two countries is virtually $190 billion.
