Exporters are hoping for the ongoing negotiations for a bilateral trade agreement to prevent India from the reciprocal prices that the United States plans to impose from April 2.
According to several sources of industry, Indian exporters hope that negotiations and the promise of prices for American imports will help India escape the reciprocal prices that US President Donald Trump has threatened to perceive imports in the United States.
Most national exporters have also shown support for a reduction in prices as well as to a zero price strategy for zero within the framework of discussions of the bilateral trade agreement. Under a zero price strategy for zero, two countries identify specific products and remove prices.
Recently, the Confederation of the Indian Textile Industry (CITI) suggested a zero tariff agreement for the United States in the textile and clothing sector.
According to sources, this is one of the questions that can be discussed at the meeting of the Ministry of Commerce with the export promotion councils on Thursday. The Minister of Commerce and Industry, Piyush Goyal, who recently returned from a trip to Washington to discuss the bilateral trade agreement, will also attend the meeting with the promotion of exports.
Sources have indicated that it is a regular meeting of the Ministry of Commerce to examine the problems encountered by exporters and strategies to stimulate exports. According to sources, the government could also consider providing more incentives to exporters to help them browse the current environment of global uncertainty in the midst of a potential tariff war.
During his visit to the United States last week, Goyal met the US trade representative (USTR) Jamieson Greer and the US trade secretary Howard Lux to trigger discussions on the proposed bilateral trade agreement. India and the United States have agreed to double bilateral trade at $ 500 billion by 2030 and negotiate the first phase of a bilateral trade agreement by the fall of 2025.
Although Goyal can visit the United States, the Ministry of Commerce is also in talks with stakeholders and in all sectors to understand areas and products where India can offer lower rates in the United States as part of the trade agreement.
