India and US in New Delhi seek interim trade agreement
India and the US are in New Delhi this week, hashing out a new interim trade agreement.
The goal? Make Indian exports more competitive against countries like Vietnam and Bangladesh, while giving American companies better access to Indian markets.
These talks pick up after earlier plans were disrupted when the US Supreme Court blocked the previous tariff setup.
Brendan Lynch, Darpan Jain negotiating tariffs
The teams, led by Brendan Lynch from the US and Darpan Jain from India, are working on a fresh tariff system that follows all legal rules.
If things go as planned by June 4, Indian industries like textiles, leather goods, and organic chemicals could see big gains in the $30 trillion market.
For now, a temporary 10% tariff is in place until July 24 as both sides iron out final details.
This deal could mean smoother business for both countries soon.