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News Topical, Digital Desk : Talks on a trade deal between India and the United States are progressing. The United States has indicated that trade talks with India are progressing. A senior administration official described recent discussions between the two countries as very positive.
Speaking to reporters, the official confirmed that Washington is working on a reciprocal trade agreement with New Delhi, as well as addressing concerns over India's purchases of Russian oil. "I think we've had a lot of positive progress with them recently," the official said.
Will the India-US trade deal be finalized by the end of this year?
He further stated that the talks would yield results by the end of this year. The official explained, "I think we've had a lot of positive progress with them recently. We have two issues ongoing with them. Of course, we have a mutual trade dialogue, but there's also the issue of Russian oil, on which we've seen an improvement in the market. So I think we can relax and rest a little bit, but there's still a lot to be done, but there's already a lot of positive progress, and we could see even more progress by the end of the year."
The US administration is working with India on two parallel issues. First, it relates to mutual trade negotiations, which typically aim to balance tariffs and market access between countries. Second, it is officials pressuring India regarding Russian oil.
Trade between the US and India is projected to reach approximately US$190 billion in 2024 and both countries have vowed to increase bilateral commerce.
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