India prioritises national interest in US trade talks, trade ministry source says

In the ongoing trade discussions between India and the United States, India's government is steadfastly prioritizing its national interests, according to a source from the trade ministry. The negotiations have hit a crucial juncture as India resists U.S. demands to open its markets further for agricultural imports, specifically wheat, dairy, and corn. These sectors are vital to India's domestic economy and food security, prompting the government to adopt a cautious stance. While maintaining a protective approach towards its agricultural sector, India is reportedly open to compromise by proposing reduced tariffs on certain high-value U.S. products. This strategic move aims to balance the trade equation, offering the U.S. benefits in areas that do not threaten India's core economic interests. The Indian government’s approach underscores its commitment to protecting local industries while seeking mutually beneficial trade relationships. The trade talks are part of a broader effort to strengthen economic ties between the two nations, with both sides eager to boost bilateral trade. However, the complexities of agricultural market access remain a sticking point. As negotiations continue, India is determined to safeguard its agricultural sector while exploring opportunities for collaboration in other industries, demonstrating a nuanced approach to international trade diplomacy.

— Authored by Next24 Live