integration | Centre to broaden bilateral trade ties 

PTI New Delhi

India and the US would focus on increasing market access, reducing import duty and non-tariff barriers, and enhancing supply chain integration in the proposed bilateral trade agreement, Parliament was informed on Tuesday.  In a written reply to the Lok Sabha, Minister of State for Commerce and Industry Jitin Prasada said that as on date, reciprocal tariffs have not been applied by the US on India.

He said that the government continues to engage with the US to achieve enhancement and broadening of bilateral trade ties in a mutually beneficial and fair manner. "Both countries plan to negotiate a mutually beneficial, multi-sector Bilateral Trade Agreement. Both countries would focus on increasing market access, reducing tariff and non-tariff barriers, enhancing supply chain integration and resolving bilateral trade issues," Prasada said.

The US has issued the Memorandum on Reciprocal Trade and Tariffs on February 13, wherein the Secretary of Commerce and US Trade Representative are to take necessary actions to investigate harm to America from any non-reciprocal trade agreements adopted by trading partners and provide a report with detailed proposed remedies for each trading partner, based on which, US action against relevant country could, thereafter be undertaken.

India, US officials to begin talks for proposed trade agreement from Wed India and the US would focus on increasing market access, reducing import duty and non-tariff barriers, and enhancing supply chain integration in the proposed bilateral trade agreement, Parliament was informed on Tuesday. Prasada said said that the government continues to engage with the US to achieve enhancement and broadening of bilateral trade ties in a mutually beneficial and fair manner.