India Waiting For Right Time To Move Forward With US Trade Deal: Commerce Secretary

India is waiting for the right time to move forward with a trade agreement with the United States, Commerce Secretary Rajesh Agrawal told the media on Friday amid ongoing discussions between the two countries.

He said both India and the US are continuing talks on the proposed trade deal, but India wants to ensure that the agreement is balanced and protects the country’s interests.

The government is closely watching global economic conditions and political developments before taking the negotiations forward at a faster pace, he said.

Agrawal said India remains committed to strengthening trade ties with the United States, which is one of India’s biggest trading partners.

The discussions are taking place at a time when many countries are trying to secure trade agreements to reduce supply chain risks and improve economic cooperation.

India and the US have been discussing issues related to tariffs, market access, digital trade, agriculture, and manufacturing.

India is also trying to protect sensitive domestic sectors while seeking greater access for Indian exports in the American market.

Timing will play an important role because both countries are dealing with economic uncertainties and changing global trade conditions.

India has recently signed or expanded trade agreements with several countries and regions as part of its strategy to increase exports and attract investments.

The government said it will continue discussions with the US and move ahead when conditions are considered favourable for both sides.

The progress on the trade deal was halted after the US Supreme Court in February struck down the tariffs imposed by the Trump administration as unconstitutional.

Days after the court order, Commerce Minister Piyush Goyal said that the government would seek a deal that serves the country’s interests in the best possible manner.

The US administration has started the refund process for tariffs imposed by President Donald Trump.