India-US interim trade deal may be finalised this week, claims report; India hardens stance on agriculture – says ‘red lines will not be crossed’

The US seeks market entry for GM crops and cattle feed in India, which presents a fragile scenario for New Delhi. (AI picture)

India-US trade deal: With Indian officers extending their keep within the US, the trade deal between the 2 nations may be finalised as early as this week. The provisional settlement, amongst the primary with a significant US trade associate, would function a preliminary step in the direction of establishing a complete trade partnership between Washington and New Delhi.According to a Financial Times report quoted by ET, the interim India-US trade deal is prone to be introduced this week. The negotiations have reached a crucial part, with New Delhi sustaining agency boundaries concerning market entry in agriculture, genetically modified (GM) crops, and dairy sectors, in accordance with sources near the discussions, in accordance with the report.

India-US Trade Deal: Agriculture Market Access A Key Hurdle

Reports point out that efforts are underway to safe the settlement earlier than July 9, when 26% reciprocal tariffs turn into efficient. A supply was quoted as saying, “We are hopeful of a deal…But there would be no compromise on the interests of Indian farmers.”Another supply emphasised, “India’s stance in these areas is very clear,” including, “There are red lines that will not be crossed”.Indian trade representatives have prolonged their Washington go to past the deliberate two-day schedule ending June 27, as discussions with US officers proceed.“Negotiations have reached a crucial stage,” famous a 3rd supply to Financial Times, indicating that the settlement may be applied in a number of levels, with sure features to be finalised subsequently.Trump introduced on April 2 a reciprocal 26% obligation on Indian items imports as a part of the administration’s trade measures affecting quite a few nations. These duties have been suspended for 90 days till July 9. Nevertheless, the basic 10% obligation will stay energetic even when the ..The US seeks market entry for GM crops and cattle feed in India, which presents a fragile scenario for New Delhi. These areas pose important challenges for India, contemplating its agricultural panorama dominated by small-scale farmers practising subsistence farming. The US administration stays agency on sustaining the baseline 10% tariff. “There are certain non-negotiables for India which it has told the US,” acknowledged an official.The commerce and trade ministry has knowledgeable native exporters and trade representatives about ongoing discussions to conclude the preliminary part, with subsequent phases to observe.