The tension of 500% tariff is over? India-US trade deal almost finalized, government gives indications!

India-US Deal Update: There was a discussion going on for a long time regarding the trade deal between India and America. Now a good and relieving news has come on this. Amidst the fear of imposition of tariff up to 500 per cent, the government has clearly indicated that the trade agreement between the two countries has almost been finalized. According to Commerce Secretary Rajesh Aggarwal, now only a formal announcement is yet to be made.

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When will the deal be finalized?

The Commerce Secretary said that talks between India and America never stopped. This conversation has been going on continuously. Recently, an online meeting was also held between Commerce Minister Piyush Goyal and US Trade Representative (USTR) Greer. The atmosphere in this conversation was very positive. The government says that the deal is almost ready, but no fixed date will be given yet. It will be announced only when both the countries completely agree.

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Demand for Indian goods remains intact in America

The figures given by the government are good news for Indian businessmen. According to the Commerce Secretary, despite high tariffs and pressure from America, India is sending goods worth about $ 7 billion to America every month. This means that the demand for Indian products still remains in the American market. Not only this, India’s exports are also doing well in countries like China and UAE.

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Good performance of clothes, seafood and jewelery

According to the report, the textile industry, marine products and gems and jewelery sectors have performed well even in difficult circumstances. Despite high taxes, the growth of these sectors has continued.

The pharmaceutical industry has adopted a new strategy. The government says that Indian pharma companies are no longer dependent only on America. Now the demand for Indian medicines is also increasing in new markets like Brazil and Nigeria. It is clear that if there is a problem in one market, then Indian companies have prepared other routes also.

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