By Admin 
India-Rus Trade Talks: After the US imposing more tariffs on India, the talks between the two countries have started again. India and the United States have decided that a mutually beneficial trade agreement (BTA) will be completed soon. The Indian delegation went to the US under the leadership of Commerce Minister Piyush Goyal and returned after a three -day conversation. During this time, both sides discussed many important issues and agreed to continue further talks.
India has demanded removal of tariffs imposed in the form of 25 percent additional penalty from the US, as it can obstruct the agreement. 100% tariff on drugs from the US can affect India’s exports, while Indian companies have a major stake in the supply of US medicines. Nevertheless, the conversation has taken place in a positive environment and it will be carried forward in a phased manner. The goal is that by 2030 the trade between the two countries will increase from $ 191 billion to $ 500 billion. The Indian delegation also met American investors and industrialists who expressed confidence in India’s economic growth and showed a desire to increase business.
Soon India-US conversation
The Ministry of Commerce said, “Both sides shared views on the outline of the agreement. During this time, it was decided to continue the talks to reach out to the earliest profitable trade agreement. These talks have been held in the backdrop of the US administration imposing a total of 50 percent fee on India.
According to the news agency PTI, an official said that India has demanded the US to remove the tariffs imposed as this panalty, as it will be important in the way of trade agreement. The official also said that US President Donald Trump’s announcement of imposing 100% import duty on branded drugs from October 1 can affect Indian exports. The reason for this is that Indian companies have a huge stake in the supply of medicines to America.
Tariff worries on pharma
Four out of every 10 drug slips written in America in the year 2022 were completed with drugs supplied from India. Despite these deadlocks, business talks are on track. The official said that the agreement will be completed in a phased manner. The first phase of the agreement is planned to be completed by October-November this year. So far, five rounds of talks have been held. The target is to increase bilateral trade from the current $ 191 billion to $ 500 billion by 2030.
The top leadership of the two countries decided to start a conversation on the trade agreement in February 2025. The trade talks were postponed in late August after imposing 50% tariffs on India. But after the American team came to India in mid -September, this series started again.