Indian stock markets on Wednesday opened higher, driven by the optimism around the potential India-US trade bilateral deal, continued foreign investment and positive economic indicators.
The U.S. Trade Representative (USTR) has said that the ongoing engagement between India and the United States for a bilateral trade agreement (BTA) could create new opportunities for workers, farmers, and entrepreneurs in both countries.
The upcoming India-US Bilateral Trade Agreement (BTA) is expected to become a model for India's future trade negotiations with other developed nations, according to a report by ACMIIL, a stock market company.
Stressing deregulation to foster innovation, Lt Gen (retd) Raj Shukla, a member of the Union Public Service Commission, on Friday said that India has talent and has to infuse more competitiveness.
The Indian Pharmaceutical Alliance (IPA) on Thursday welcomed the exclusion of pharmaceuticals from US tariffs, with Secretary General Sudarshan Jain emphasising the deepening of India-US trade ties under the Mission 500 initiative, aiming to double bilateral trade to USD 500 billion.
The possible trade agreement between India and the United States could include key sectors such as agriculture, automobiles, and pharmaceuticals, says a report by Jefferies.
Representatives of India's Department of Commerce and the Office of the US Trade Representative held meeting in the national capital for four days beginning March 26 as a follow up to the two countries agreeing to expand bilateral trade to reach USD 500 billion by 2030, including through the
India could see a loss of around USD 6 billion, or 0.16 per cent of its GDP, in exports to the US if broad tariffs of 10 per cent are enacted, Emkay Global, a research & investment firm, said in a latest report.
Bilateral trade between India and the US is likely to be signed by the end of the year, said Arvind Virmani, Member Niti Aayog, while releasing the government think tank's 'Trade Watch July -September 12 FY25' report.
"And because India does apply tariff lines to a number of American exports to India, if you strictly understand what reciprocal means, it would mean that our exports to America will also be affected. So I'm hoping that in the talks they'll find some sensible outcome" he said