USIBC bats for early conclusion of India-US trade deal

Washington, Sep 25 (PTI) Ahead of Commerce Minister Piyush Goyal's visit to the US, a prominent American industry body made a strong pitch for the conclusion of the India-US trade deal before the year end and to provide greater certainty to the economic and strategic partnership.

"The United States and India have achieved truly historic milestones over the last two decades. Finalising a Reciprocal Agreement on Trade before year's end would be their greatest accomplishment yet,” US-India Business Council President Atul Keshap said in a statement here.

"We call on both governments to use this opportunity to conclude an agreement that lowers trade barriers, and minimises tariffs. A historic agreement would encapsulate this year's hard-won progress providing greater certainty to an incredibly consequential economic and strategic bilateral partnership,” Keshap said.

In February, India and the US announced finalisation of the framework for the first phase of the bilateral trade agreement (BTA). However, changes in the tariff landscape in the US have led to further negotiations on the pact.

The US decision to impose 10 per cent forced labour tariffs on India and the looming threat of Section 301 investigation into structural "excess industrial capacity" and subsidies and the recent passage of the Russia sanctions Act by the US Congress have put a question mark on early conclusion of the deal.

According to Keshap, unlocking reciprocal trade will build on 2026’s record investments and secure a win for American and Indian business that delivers immediate benefits to working families by boosting manufacturing, opening vast new consumer markets, and cementing both nations as global leaders in AI.

“US-India Business Council members are steadfast champions of this partnership. We look forward to working with both governments to accelerate collaboration between the world’s largest economy and its fastest-growing major economy,” Keshap said.

Goyal is scheduled to visit the US for the G20 Trade Ministerial, to be held in Milwaukee, Wisconsin, from September 30 to October 1.

He will also hold a bilateral meeting with US Trade Representative Jamieson Greer and discuss the progress of negotiations for the trade pact. PTI SKU ZH

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