India-US Interim Trade Agreement: Progress and Prospects

India's chief negotiator and Special Secretary in the Department of Commerce, Rajesh Agrawal, has revealed significant progress in the trade discussions between India and the United States. Addressing the media, Agrawal confirmed that a delegation will travel to the US next week to outline the framework for a legal agreement.

Agrawal expressed hope that the interim trade agreement could be finalized by the end of March. However, he noted the potential challenges in drafting an agreement satisfactory to both parties. The strategy emphasizes India's strengths in the labor-intensive sectors, projecting unhindered growth in these areas.

The interim agreement seeks to protect India's sensitive sectors, including dairy and agriculture, where Tariff Rate Quotas (TRQs) will be used. Agrawal reassured that past agreements have upheld these protections and highlighted positive feedback from stakeholders. He also anticipated favorable trade performance data ahead of its release.