A big update has come on the long pending trade deal between India and America. Earlier the deal was to be signed between the two in this month i.e. March. But now this does not seem to be happening. The trade agreement between India and America was to be signed in March, but now it seems that this agreement will not be signed this month. This information has been given by India’s Commerce Secretary Rajesh Aggarwal. He says that America is trying to develop a tariff system for the entire world, only after that it would be better to sign it.
The Commerce Secretary said on Monday that according to Article 122 of America, at present only 10 percent tariff is being imposed in the world. He said that the trade agreement with America will be contrary to the existing tariffs. He said that the agreement is completely ready, it is not that it has been postponed or there is any dispute over it. He said that the negotiators are still discussing this.
Awaiting clarity on tariff
The Commerce Secretary said that India has not yet signed this agreement. He said that India is waiting for more clarity on tariffs. On the fuel crisis that has arisen amid the ongoing war between Iran and Israel, the Commerce Secretary has said that India has increased the purchase of oil from Russia.
The country’s Union Commerce Minister Piyush Goyal had earlier said that the agreement could be signed in March and implemented from April. India-US bilateral trade will be $186 billion in 2024-25. In such a situation, this deal is considered very important for the trade relations of both the countries.
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