India: Engaged with US for mutually beneficial trade deal

NEW DELHI: Amid global concerns about the fallout of US reciprocal tariffs, India reiterated on Wednesday that discussions are ongoing between Indian and US trade teams for the expeditious conclusion of a mutually beneficial, multi-sectoral bilateral trade agreement (BTA). India values its comprehensive global strategic partnership with the US and is committed to working closely with it, said the external affairs ministry.

"India is carefully examining the implications of the various announcements made by the US. Govt of India remains engaged with all stakeholders and is assessing the situation by taking into account feedback from stakeholders including exporters and industry representatives," said ministry spokesperson Randhir Jaiswal.

Foreign minister S Jaishankar and his counterpart Marco Rubio had in a phone conversation this week agreed on the need for an early conclusion of the BTA, as the US seeks a "fair and balanced" trade relationship with India. The ministry expressed hope that similar agreements with the EU and UK will be finalised soon as well.

Amid the global uncertainty, as finance minister Nirmala Sitharaman said this week, India is looking to have more trade deals. "India is looking at many bilateral arrangements."