New Delhi: The government on Monday said that the much-awaited interim trade deal between the United States and India has been rescheduled to June 2, 3 and 4, instead of June 1 (Monday) as all the delegation members have not arrived yet in New Delhi. However, the high-stake deal has already finalised the most elements of the first phase of the bilateral trade agreement (BTA), and the pending negotiations will now focus on a few minor issues, according to the government sources.
The sources further said that Indian negotiators are expected to focus on preferential access among competitors, while tariff relief from US Section 301 investigations will be among the top agenda during talks with the US trade team. “The talks between two nations will finalise minute details of the interim pact, while the advance negotiations will be held for next 3 days on market access, non-tariff measures, customs and trade facilitation, investment promotion and economic security alignment,” the source said.
In the upcoming trade deal talks, the US delegation is led by chief Negotiator Brendan Lynch and will hold discussions with his Indian counterpart headed by additional secretary Darpan Jain.
Confirming the development, commerce and industry minister Piyush Goyal told reporters here that the talks will take place here in New Delhi from June 2-4. “The US have finalised most elements of the first phase of the bilateral trade deal, and a few minor issues are left like ‘commas and full stops’. That’s why the US team is here to hold talks on finalising the first phase of the BTA,” the minister said.
As far as the US team is concerned, Goyal also said that some people have come, some will arrive tonight. He recalled the remarks of the US Ambassador to India that 99 per cent of the details of the interim trade agreement have been finalised. “I am fully confident that we will conclude the first tranche of the BTA with the US as soon as possible. We will sign it and then proceed to initiate further discussions on how to formulate an even more comprehensive bilateral trade agreement moving forward,” he said.
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