Amidst the Corona crisis, trust between India and America has increased. A trade agreement between India and the United States has been under discussion for a long time. When US President Donald Trump came on his first visit to India in February this year, there was a loud discussion that there could be a small trade deal between the two countries, but this could not happen.
India’s Ambassador to the US Taranjit Singh has expressed the hope that a small trade deal between India and America can be done in the next few weeks.
He admitted that due to unprecedented challenges from Covid-19, there is a slight delay in the matter. He said that India and America have increased confidence in the Corona crisis.
These days America’s relations with China are going on tense. In such a situation, there is a good opportunity for India to strengthen its business relations with America.
Significantly, there has been a lot of discussion between India and the United States about the trade agreement. In February this year, when US President Donald Trump visited India. On his first visit, there was a strong discussion that there could be a small trade deal between the two countries, but this could not happen.
Prior to this, prior to Trump’s visit, the US had backed down from entering into a small trade deal agreement with India. According to an India Today report, both the Indian and US sides worked hard for a business deal before Trump’s tour.
The deal was almost settled between the two sides, but the American authorities, citing the need for a mega treaty, pulled their feet back at the last moment and put it on hold. America told India that they will wait a little longer for a big trade agreement.
The US was demanding that the price restrictions on some medical devices be relaxed, while India was demanding that the US reinstate the Priority Normalization System (GSP), which it withdrew last June.
For recent and latest updates regarding business news, industry trends, etc. Please subscribe Newsletter from “The Enterprise World” at “Subscribe”
