India-US Trade Deal Nears: Negotiations Continue Despite Tariff Challenges

• Commerce Secretary Rajesh Agrawal confirmed ongoing India-US trade deal negotiations, with both sides optimistic about reaching an agreement.
• Senior-level engagements, including a virtual meeting between Piyush Goyal and Jamieson Greer, and a meeting at Vanijya Bhawan with US officials, are driving talks forward.
• Despite high tariffs, India's exports to the US show positive growth, focusing on areas with lower tariffs or resilient supply chains.
• India has increased oil imports from the US, addressing a key point of contention in trade deal discussions.
• India is also actively negotiating trade agreements with other countries like Canada, aiming to expand global trade opportunities.

Why It Matters: India and the US are actively negotiating a trade deal, maintaining positive export growth despite tariff hurdles.