India Pursues Multi-Sector Trade Deal with US Ahead of April Tariff Deadline

India is proposing a multi-sector bilateral trade agreement (BTA) with the US, aiming for tariff cuts in automobiles, pharmaceuticals, agriculture, and electronics to pre-emptive reciprocal tariffs from April 2, 2025. Commerce Minister Piyush Goyal stressed a calibrated "India First" approach in recent talks with US counterparts, weighing local industry protection against US calls for lower duties. The agreement is intended to achieve the $500 billion target of trade by 2030, and an initial agreement is anticipated by autumn 2025. New tariff offers and sectoral talks are in progress, targeting autos (existing tariffs >100%) and agriculture.

 

Sources: CNBC TV18, Business Standard, NSE/BSE Filings