India, Qatar may finalise trade pact terms in October

India and Qatar are likely to finalise the terms of reference for a bilateral trade agreement next month and once these are finalised, commerce and industry minister Piyush Goyal may visit Qatar, officials said on Monday.

Goyal is also likely to meet EU trade commissioner MaroS Šefcovic Friday, even as the 13th round of India-EU free trade agreement talks are underway in New Delhi, they said.

The government will protect the country's core interests in sensitive sectors such as dairy, agriculture, fisheries and micro, small and medium enterprises (MSMEs) in all trade pacts, officials said, adding that India remains committed to increasing two-way trade, keeping the interests of these sectors in mind. "We are looking for fair, equitable and balanced trade with reciprocity," said one of the officials, who did not wish to be identified. Trade engagements with other countries are crucial as India eyes partnerships to offset the impact of the steep 50% tariffs imposed by the US with effect from August 27. The two sides are negotiating a Bilateral Trade Agreement (BTA), the first tranche of which is aimed to be concluded by autumn this year. The sixth round of talks for the BTA was scheduled for August 25 in New Delhi but American trade negotiators postponed the visit.


On whether the autumn deadline for India-US BTA remains, the official said, "Look at the joint statement (of the two leaders). Both nations have decided that we should look for the first tranche of BTA." In the proposed BTA, the US is seeking reduced tariffs on products such as corn, soybeans, apples, almonds and ethanol, as well as increased access for its dairy products. India is, however, strongly opposing these demands as any concessions would affect the livelihood of small and marginal farmers. India has never given any duty concessions to any of its trading partners, including Australia and Switzerland, with whom it has signed trade agreements.

The proposed BTA is aimed at more than doubling India-US trade to $500 billion by 2030 from the current $191 billion. The US was India's largest trading partner in the April-July period, with bilateral trade amounting to $12.56 billion.

New Delhi: India and Qatar are likely to finalise the terms of reference for a bilateral trade agreement next month and once these are finalised, commerce and industry minister Piyush Goyal may visit Qatar, officials said on Monday.

Goyal is also likely to meet EU trade commissioner MaroS Šefcovic Friday, even as the 13th round of India-EU free trade agreement talks are underway in New Delhi, they said.

The government will protect the country's core interests in sensitive sectors such as dairy, agriculture, fisheries and micro, small and medium enterprises (MSMEs) in all trade pacts, officials said, adding that India remains committed to increasing two-way trade, keeping the interests of these sectors in mind. "We are looking for fair, equitable and balanced trade with reciprocity," said one of the officials, who did not wish to be identified. Trade engagements with other countries are crucial as India eyes partnerships to offset the impact of the steep 50% tariffs imposed by the US with effect from August 27. The two sides are negotiating a Bilateral Trade Agreement (BTA), the first tranche of which is aimed to be concluded by autumn this year. The sixth round of talks for the BTA was scheduled for August 25 in New Delhi but American trade negotiators postponed the visit.

On whether the autumn deadline for India-US BTA remains, the official said, "Look at the joint statement (of the two leaders). Both nations have decided that we should look for the first tranche of BTA." In the proposed BTA, the US is seeking reduced tariffs on products such as corn, soybeans, apples, almonds and ethanol, as well as increased access for its dairy products. India is, however, strongly opposing these demands as any concessions would affect the livelihood of small and marginal farmers. India has never given any duty concessions to any of its trading partners, including Australia and Switzerland, with whom it has signed trade agreements.

The proposed BTA is aimed at more than doubling India-US trade to $500 billion by 2030 from the current $191 billion. The US was India's largest trading partner in the April-July period, with bilateral trade amounting to $12.56 billion.

New Delhi: India and Qatar are likely to finalise the terms of reference for a bilateral trade agreement next month and once these are finalised, commerce and industry minister Piyush Goyal may visit Qatar, officials said on Monday.

Goyal is also likely to meet EU trade commissioner MaroS Šefcovic Friday, even as the 13th round of India-EU free trade agreement talks are underway in New Delhi, they said.

The government will protect the country's core interests in sensitive sectors such as dairy, agriculture, fisheries and micro, small and medium enterprises (MSMEs) in all trade pacts, officials said, adding that India remains committed to increasing two-way trade, keeping the interests of these sectors in mind. "We are looking for fair, equitable and balanced trade with reciprocity," said one of the officials, who did not wish to be identified. Trade engagements with other countries are crucial as India eyes partnerships to offset the impact of the steep 50% tariffs imposed by the US with effect from August 27. The two sides are negotiating a Bilateral Trade Agreement (BTA), the first tranche of which is aimed to be concluded by autumn this year. The sixth round of talks for the BTA was scheduled for August 25 in New Delhi but American trade negotiators postponed the visit.

On whether the autumn deadline for India-US BTA remains, the official said, "Look at the joint statement (of the two leaders). Both nations have decided that we should look for the first tranche of BTA." In the proposed BTA, the US is seeking reduced tariffs on products such as corn, soybeans, apples, almonds and ethanol, as well as increased access for its dairy products. India is, however, strongly opposing these demands as any concessions would affect the livelihood of small and marginal farmers. India has never given any duty concessions to any of its trading partners, including Australia and Switzerland, with whom it has signed trade agreements.

The proposed BTA is aimed at more than doubling India-US trade to $500 billion by 2030 from the current $191 billion. The US was India's largest trading partner in the April-July period, with bilateral trade amounting to $12.56 billion.