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New Delhi, Aug 28 (PTI) India is hopeful of resuming negotiations on the proposed bilateral trade agreement (BTA) with the US soon and addressing the issue of high tariffs imposed by Washington on Indian goods will be key to striking the deal, a government official said on Thursday.
However, the official said the new dates for the next round of negotiations for the agreement have not yet been finalised.
"We are hopeful to get back on the table soon... whenever we strike a deal, both the tariffs (additional 25 per cent and 25 per cent on purchase of Russian oil) need to be addressed," the official said.
The two countries started negotiations for BTA in March. So far, five rounds of negotiations have been completed. The US team, which was scheduled to visit India from August 25, for the next round of negotiations for the agreement, postponed the meeting.
The talks are paused as the US is pressing for greater market access in politically sensitive areas such as agri and dairy sectors, which India cannot accept as it affects the livelihood of small and marginal farmers. PTI RR TRB
Tariffs remain the central issue for India-US trade talks, with market access and farm protections blocking progress. Resumption of India-US bilateral trade negotiations depends on addressing tariff barriers and contested market-access demands. Five rounds of talks have occurred and the next round is unscheduled pending resolution of additional tariffs and tariff-related energy measures. The US seeks greater access in sensitive sectors, especially agriculture and dairy; India resists concessions that would affect small and marginal farmers, treating sectoral safeguards as a precondition for further progress.Press 'Enter' after typing page number.