India-US Trade Talks Veer to 'Mini' Treaty

A preliminary pact may be signed before full trade deal's cutoff

- Dhirendra Kumar

As India and the US huddle to finalize the contours of a wide-ranging bilateral trade agreement (BTA), the two sides now appear inclined to ink a preliminary trade agreement first, two people aware of the matter said on the condition of anonymity.

The first person said the preliminary agreement is being deliberated keeping sensitive issues like immigration policies and intellectual property (IP) transfers off the table.

As for what may likely be in, tariff concessions have been proposed for almonds, lentils, and advanced technology products in the pharma sector, among others.

The Indian side has emphasized a structured reduction in duties, akin to the frameworks established in the country's trade agreements with the UAE, Australia, and the European Free Trade Association (EFTA), the second person cited above said.

These agreements have led to significant reduction of trade tariffs across multiple industries and products.