India-US To Iron Out Differences Over Trade Deal

Both sides are bargaining hard, but the final package may not be very attractive, say officials

- Amiti Sen

Along-pending India-US trade pact will be high on US President Donald Trump’s agenda during his likely visit to New Delhi next month, but any agreement between the two countries in the area could be much lower in ambition than initially visualized because of niggling differences in key areas, say officials.

“The US has a wish-list ranging from no price caps on medical equipment and greater market access for dairy products to zero import duties on mobile phones and high-end IT products and lower tariffs on farm goods. India, on the other hand, wants full restoration of Generalised System of Preferences (GSP) benefits for its exporters, greater export of agriculture produce and a roll-back of penal duties on its steel and aluminum. But both sides are bargaining hard and the final agreement may not be a very attractive package,” an official close to the development told BusinessLine.

Looking at a trade pact