‘Closer to US deal after recent talks’

A team of officials led by commerce secretary Rajesh Agrawal, which was in Washington between October 15 and October 17, is on its way back and the date of the next meeting will be decided in due course.

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FURTHER PROGRESS HAS been made in the just-concluded trade talks between India and the US and no major differences now remain between the two sides, a senior official said on Saturday, reports Mukesh Jagota.

"THERE HAS BEEN progress with every round of the talks with the US, There are no major differences left. In the current round the engagement was positive," the official added, requesting anonymity.

These comments come in the backdrop of Washington's repeated claims of an assurance from India to phase out import of crude oil from Russia. India has merely said it is willing to increase energy imports from India, in its bid to diversify sourcing, while being mindful of costs. The US currently levies an additional 50% tariff on most Indian goods, half of which as a penal impost for buying oil from Russia.