India keen to conclude interim trade deal with USA by July 9 this year

American companies are getting better access to the Indian Market in near future

- BY T N ASHOK

India will be one of the earliest countries to clinch a mega trade deal with the United States under the watchful eye of the latter's president Donald Trump, who is happy and cautious, as Commerce Secretary Howard Lutnick and his counterpart Piyush Goyal work out the nitty gritties of the "Art of the Deal.

That would make US goods more affordable in India and also grant greater market access to US companies in emerging fields in India.

India and the US are working hard to hammer out a trade deal as soon as possible, though such negotiations take a long time and come to fruition years later, the negotiations are at an advanced stage. They aim to take the annual bilateral trade between the two countries from the current $190 billion to a massive $500 billion by 2030-and hence aptly titled 'Mission 500'. U.S. sources say that Prime Minister Narendra Modi is keen to conclude the interim deal by July 9 the expiry date of the 90 day pause on reciprocal tariff imposed by Trump in April this year.

After his recent meeting with India's trade minister Piyush Goyal, US commerce secretary Howard Lutnick said “India has one of the most extraordinary economies”. “The key that makes an extraordinary economy is the determination of the people. How much do your people care about being in business? How entrepreneurial are they? How much do they drive to be better for their families?” he said, adding that “From what I know about India, the core population of India has that drive and ambition, and that’s why the Indian economy will always continue to grow and thrive because it has that from the underpinning and so you can do things in India that many other countries, you just can’t get done.”