India eyes US reciprocal tariff pact by end of Dec

India is looking to finalize a framework agreement on reciprocal tariffs with the US by the end of this year, said commerce secretary Rajesh ‘Agrawal, marking a significant step toward resolving the strained bilateral trade between the two countries.

- Dhirendra Kumar

Shipments to the US account for around 2% of India's GDP.

(AFP)

The two countries are making steady progress on a deal running parallel to the broader bilateral trade agreement negotiations, and the government is pursuing “two separate parallel tracks” with Washington, ‘Agrawal said.

“While a comprehensive trade agreement will take longer due to its wide scope, the framework deal—aimed specifically at addressing reciprocal tariff challenges—has moved into an advanced stage,” he said, speaking at an event organised by Ficci on Friday.