- India-US trade deal will focus on preferential access for India over other partners
- India is in its fifth round of trade negotiations with the US
- Indian officials are monitoring potential tariff differentials with other countries
India-US Trade Deal: The India-US trade deal will be all about "preferential access", according to official sources as a team of Indian negotiators continues to be in the US for trade talks.
A top official, speaking at the condition of anonymity, said the deal will be centred around preferential access, indicating that India's tariff rates and other terms of the deal might be better than what other trading partners like Vietnam, Indonesia, Thailand or Cambodia have received.
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India is currently in its fifth round of trade negotiations with the US. Indian officials, based on the condition of anonymity, told NDTV Profit on Tuesday that they are closely monitoring potential tariff differentials that could emerge vis-Ã -vis other countries.
"We're in wait-and-watch mode," an official said, noting that the full extent of the impact will only be clear after the Aug. 1 deadline, when the US is expected to firm up its tariff plans.
Separately, a visit by Prime Minister Narendra Modi to the UK is also being planned for next week for the formal signing of the free trade agreement, however a date has not been finalised. It was earlier reported that UK Prime Minister Keir Starmer was likely to visit India, however that has changed. Final details on the PM Modi's schedule and visit will likely be taken post his Maldives visit, also planned for around July 26.
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