A team of United States officials is likely to visit India next weak to advance the ongoing trade talks between the two countries, sources told NDTV Profit.
While dates for the visit are still being finalised, both sides remain hopeful to conclude signing a framework deal by the end of this year to address tariffs, persons privy to the development said.
India and the US began trade deal-related discussions this year, but the talks faced a brief period of disruption after President Donald Trump slapped Indian imports with tariffs as high as 50%.
The negotiations resumed in September, amid expectations of the first tranche of the trade deal being concluded by September.
The high import tariffs has adversely impacted Indian exports to the US, with the shipments sliding month-on-month after the tariffs came into effect. In October, India shipped items worth $6.3 billion to the US, lower as compared to $6.9 billion a year earlier.
Sectors with high US exposure like textiles, gems & jewellery, shrimp, leather goods, and other labour-intensive categories have felt the deepest impact.
The hit has been most visible in job-heavy clusters such as Tiruppur for textiles, Surat for gems and jewellery, and coastal Andhra Pradesh for shrimp, where buyers have started shifting orders to Vietnam, Bangladesh, and Mexico.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
