CEA Doubts March US-India Trade Deal Amid Tariffs & Geopolitics

• India's Chief Economic Advisor (CEA) V Anantha Nageswaran expects a US-India trade deal by March, stating most issues are resolved.
• Nageswaran's optimism has wavered, acknowledging geopolitical factors and difficulty in setting a timeline for a deal.
• The US imposed a 50% tariff on Indian exports, including a 25% penal duty tied to India's Russian oil purchases, affecting sectors like textiles and shrimp.
• No trade deal has materialized, leading to choppy markets and a rupee weakened past 90, which the CEA views as beneficial for exports.
• Concerns exist over potential US action against Indian rice exports, which could complicate ongoing trade negotiations.

Why It Matters: Ongoing US-India trade disputes threaten India's economy and key export sectors.