India-US trade pact likely before July 9

AN Indian team has returned from Washington after holding talks with the US on an interim trade pact, which is likely to be finalised before July 9, but discussions will continue as certain issues in the agri and auto sectors still need to be resolved, an official said.

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The Indian team is led by chief negotiator Rajesh Agrawal. He is special secretary in the department of commerce.

The official said that the talks are in the last phase and its conclusion is expected to be announced before July 9, which marks the end of the 90-day suspension period of the Trump tariffs imposed on dozens of countries including India.

"Indian team is back from Washington. Negotiations will continue. There are certain issues which need to be resolved in agriculture and auto sectors," the official said.

India has raised issues over 25 per cent duty in auto sectors. It has taken up the matter in the Safeguards committee of the World Trade Organisation (WTO).

India has also informed the WTO that it has reserved the right to impose retaliatory duties on select US products in response to American tariffs on steel and aluminium.