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Negotiations with the United States on a proposed trade agreement are progressing in a cordial and positive atmosphere, officials at the Commerce Ministry said on Wednesday.
Officials also confirmed that India is holding trade discussions with Canada, Chile, Israel and the Gulf Cooperation Council (GCC) countries. They commented that New Delhi remains open to expanding its trade engagements but is not in a rush to conclude agreements. "Discussions are ongoing with several countries. India is happy and willing to expand its trade engagements as we believe there is significant interconnected trade globally," an official said. "However, we engage only with fair trading partners and carefully examine each free trade agreement on its own merits. We are never in a hurry and move at our own pace, without compromising our interests." Responding to a question specifically on talks with Washington, the official said, "Discussions with the United States are also ongoing and continue in a very cordial and positive atmosphere." The comments come amid prolonged trade negotiations between India and the US. Tensions had escalated after the Trump administration imposed an additional 25 per cent tariff on Indian goods over New Delhi's oil trade with Russia, taking total duties to 50 per cent. Meanwhile, a media report citing leaked audio recordings has claimed that US Republican Senator Ted Cruz said Vice President JD Vance and White House economic adviser Peter Navarro played a key role in blocking a proposed trade deal between the two countries. On other negotiations, officials said Canada has expressed interest in expediting talks if timelines permit, while negotiations with Chile are close to completion. "Once we are free from the Budget process, we will speed up negotiations with Chile, as there is a clear route involving all stakeholders, and we hope to conclude that quickly," the official said. The review of the ASEAN-India Trade in Goods Agreement (AITIGA) is already underway and is beginning to take shape, while scoping studies are also in progress with some other interested partners, officials added. (ANI)
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