New Delhi: A US team, which was scheduled to visit India from August 25, for the next round of negotiations for the proposed bilateral trade agreement is likely to defer the meeting to a later date, an official said.
So far, five rounds of talks have been completed for the proposed bilateral trade agreement (BTA) and a US team is scheduled to visit India for the sixth round of talks.
The negotiations were scheduled from August 25-29.
“This visit is likely to be rescheduled,” the official, who did not wish to be named, said.
Deferment or rescheduling of the meeting assumes significance as the US has announced a staggering 50 per cent duty on Indian goods.
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.
India has stated that it will not compromise the interests of farmers and cattle rearers.
The US and India have announced plans to conclude the first phase of BTA by fall (September-October) of 2025. The two countries are aiming at more than doubling the bilateral trade to $500 billion by 2030, from the present $191 billion.
While the 25 per cent tariff on Indian goods entering the US has come into effect from August 7, an additional 25 per cent, on India was announced as a penalty for buying crude oil and military equipment from Russia, will come into effect from August 27.
During April-July, the country’s exports to the US increased 21.64 per cent to $33.53 billion, while imports rose 12.33 per cent to $17.41 billion, according to commerce ministry data.
The US was the largest trading partner of India in the April-July period ($12.56 billion bilateral trade) 2025-26. India’s exports to America have been recording positive growth since April this year.
PTI
