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News Topical, Digital Desk : Updates are continuously coming regarding the India-US Trade Deal. In this regard, Commerce Secretary Rajesh Agarwal has said that the country's trade with America is in a strong position. According to media reports, he said that amid ongoing talks between the two sides, India is close to a trade deal with the Donald Trump administration. The Commerce Secretary said that a trade deal between India and America is likely to happen soon. However, he has said that he cannot give a time frame for it.
Commerce Secretary Rajesh Aggarwal also said that India and the US are optimistic about a trade deal, and talks are ongoing between the two countries in this regard.
When will the trade deal be announced?
While releasing the latest trade data, Commerce Secretary Rajesh Aggarwal further clarified that talks between India and the US were never actually broken. “We are in constant dialogue. There has been a virtual meeting between Piyush Goyal and USTR Greer, and there are some issues that are being discussed. It is very close, but we cannot give any deadline. The deal will happen when both sides are ready, and we will be ready to announce it.”
Growth continues despite higher tariffs
Commerce Secretary Rajesh Agarwal said, "Trade with the US is positive. Markets in China and the UAE are also performing well." He added, "Despite high tariffs, India is still exporting about $7 billion to the US every month." Rajesh Agarwal said, “Sectors such as textiles, marine products, and gems and jewellery are maintaining growth due to diversification despite high tariff pressure from the US.”
Speaking about the pharmaceutical sector, which is one of the most export-dependent sectors, Agarwal said new markets are emerging for Indian companies. "India's pharmaceutical exports are growing with diversification, and emerging markets like Brazil and Nigeria are leading the growth.
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