Wednesday, Aug 05, 2020 | Last Update : 10:18 PM IST

133rd Day Of Lockdown

Maharashtra45795629935616142 Tamil Nadu2682852087844349 Andhra Pradesh176333956251604 Karnataka145830692722704 Delhi1391561252264033 Uttar Pradesh100310572711817 West Bengal80984568841785 Telangana6894649675563 Gujarat65704485612529 Bihar6203140760349 Assam4816233429115 Rajasthan4667932832732 Haryana3779631226448 Odisha3768124483258 Madhya Pradesh3508225414912 Kerala279561629988 Jammu and Kashmir2239614856417 Punjab1901512491462 Jharkhand140705199129 Chhatisgarh10109761369 Uttarakhand8008484795 Goa7075511460 Tripura5520367528 Puducherry4147253758 Manipur301818147 Himachal Pradesh2879171013 Nagaland24056594 Arunachal Pradesh179011053 Chandigarh120671520 Meghalaya9173305 Sikkim7832971 Mizoram5022820
  Business   Economy  23 Feb 2019  India, US expected to soon finalise a trade package to boost bilateral commerce

India, US expected to soon finalise a trade package to boost bilateral commerce

PTI
Published : Feb 23, 2019, 4:35 pm IST
Updated : Feb 23, 2019, 4:35 pm IST

ndia's exports to the US in 2017-18 stood at USD 47.9 billion, while imports were USD 26.7 billion.

The official added that India and the US are having two track discussions -- to increase trade in short and medium term, and identify long term trade potentials. (Photo: File)
 The official added that India and the US are having two track discussions -- to increase trade in short and medium term, and identify long term trade potentials. (Photo: File)

New Delhi: To boost the bilateral trade, Commerce Ministry officials and the US Trade Representative (USTR) are in the process of finalising a trade package which would be announced soon, an official said.

India is pressing for exemption from high duty imposed by the US on certain steel and aluminium products, resumption of export benefits to some domestic goods under their Generalised System of Preferences (GSP) as well as greater market access for its products from sectors like agriculture, automobile, auto components and engineering.

 

On the other hand, the US is demanding greater market access through cut in import duties for its agriculture goods, dairy products, medical devices, IT and communication items, the official said.

As the talks are going on, India is extending the deadline for imposing high customs duties on 29 US products in retaliation to Washington's move to impose high import duties on certain steel and aluminium products.

The official added that India and the US are having two track discussions -- to increase trade in short and medium term, and identify long term trade potentials.

India's exports to the US in 2017-18 stood at USD 47.9 billion, while imports were USD 26.7 billion. The trade balance is in favour of India.

 

Tags: commerce ministry, trade, bilateral trade, exports, imports
Location: India, Delhi, New Delhi