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India's Ambassador to the United States, Vinay Mohan Kwatra, on Monday said the growing India-US economic partnership presents significant opportunities in innovation, manufacturing and global business collaboration following his meeting with UPS Chief Executive Officer Carol Tome.
In a post on X, Kwatra said the discussions focused on strengthening economic ties, resilient supply chains, logistics connectivity and UPS's expanding footprint in India. "Delighted to meet Carol Tome, CEO of @UPS. We discussed the growing India-US economic partnership, resilient supply chains, logistics connectivity, and UPS's expanding investments, engagement and presence in India. Indian economy offers exciting opportunities in innovation, manufacturing, and global business partnerships," Kwatra posted. https://x.com/AmbVMKwatra/status/2084414312970441160 The meeting comes amid continued efforts by New Delhi and Washington to deepen economic engagement, including negotiations for a Bilateral Trade Agreement (BTA). Last week, the Centre informed the Rajya Sabha that India remains engaged with the United States on the proposed BTA while closely monitoring developments related to tariffs. In a written reply, Minister of State for Commerce and Industry Jitin Prasada said the government is studying all tariff-related developments and remains in continuous consultation with stakeholders, including farmers, agricultural exporters, industry bodies, export promotion councils and state governments, to safeguard India's trade interests. The minister said negotiating teams from both countries met in Washington, DC, from April 20 to 22 and in New Delhi from June 1 to 4. The US Trade Representative also visited New Delhi from June 22 to 24 as part of the ongoing discussions. According to the government, India and the United States launched negotiations for the Bilateral Trade Agreement following the leaders' meeting in February 2025 under the "Mission 500" initiative, which aims to expand bilateral trade to USD 500 billion by 2030. The Centre also informed Parliament that an interim trade deal framework was announced in February 2026. It added that the additional 25 per cent tariff earlier imposed by the United States on certain Indian exports over India's imports of Russian oil has since been removed. The government further noted that while reciprocal tariffs are no longer in force following a US Supreme Court judgment, a 10 per cent tariff imposed by the United States under Section 122 of the US Trade Act, 1974, continues to apply to certain products. The Centre said it continues to support exporters through measures such as the Export Promotion Mission, the Credit Guarantee Scheme for Exporters and trade relief measures introduced by the Reserve Bank of India as negotiations with the United States continue. (ANI)
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