Negotiating teams of India and the United States have concluded their three-day in-person discussions to finalize an interim bilateral trade agreement.
The talks, which began on Tuesday, aimed to address Washington's demand for greater market access and New Delhi's push for a comparative duty advantage for Indian goods in the American market.
According to sources, all matters except tariff architecture were settled on February 7, but the US is now working on a new, legally tenable tariff architecture that would give Indian goods an advantage over competitors like Vietnam, Bangladesh, Sri Lanka, and Pakistan.
The interim deal, expected soon, will provide a huge market opportunity in labor-intensive sectors such as textiles, apparel, leather goods, and more.
Negotiations are progressing in the right direction, with some outcome expected by June 4.
