Limited Trade Deal Between India, US Deferred; Focus On Resolving Market Access Issues For Now

The 'limited' trade deal that was being negotiated between India and the United States (US) has been deferred.

Addressing the top representatives of over a dozen export promotion councils on Thursday (19 August), Union Commerce and Industry Minister Piyush Goyal said that the US has kind of indicated that they are not looking for a new trade agreement as of now, reports Financial Express.

The negotiations over the limited trade pact had begun during the tenure of former US president Donald Trump. It was supposed to cover products with annual bilateral trade of about $13 billion.

It should be noted that the US is India’s largest export market. It made up for outbound shipment of almost $52 billion in FY21 alone.