New Delhi, Jul 17 (PTI) The Congress on Thursday said the India-US trade agreement should be done keeping national interests foremost and no pact should be completed under pressure.
Senior Congress spokesperson Anand Sharma also said the proposed trade agreement with the US, talks for which are continuing, should be a balanced and fair one and the agriculture sector should be kept out of it in order to protect the interests of Indian farmers.
“We expect that those who are negotiating from our side will make an agreement keeping in mind the concerns and interests of the nation,” he told reporters here.
The former commerce minister said whatever is being negotiated, “we hope that India’s national interest and concerns will be borne in mind and it should be a balanced and fair agreement”.
Sharma also said that India must not be in conflict with its commitments at the WTO or the WTO agreements.
“We must not become a party to the unravelling or the multilateral rule based trade order, we have to be cautious, that’s our advice,” he said.
Noting that America is an important partner of India, Sharma said that India is a different country while India has its own priorities.
“America is our important partner and the relationship has special importance. But whatever talks take place, it should be on equal terms and keeping the reality in mind and national interest in mind. No agreement should be made under any pressure,” he stressed.
Calling for a rule based trade and that no agreements should be done without rules, the Congress leader said whatever agreement India does, the agriculture and dairy sectors are important and “we cannot open all sectors”.
“I had mentioned multilateralism earlier, it is important in business and trade as well. Whether it is America, India, we are members of WTO. Our belief is that there should be a rule based world trade regime, which should be based on rules, based on laws, based on agreements, no agreement should be made outside that line.
“There are demands during the talks, India should also have demands, but whatever agreement we make, as you said, the agriculture and dairy sector is a very sensitive area for India, for our farmers, for our producers and there are many other reasons for that, due to which we cannot open it all at once,” he said.
Sharma said we also have to see what India gets from it, saying one has to remember that America is the biggest economy of the world.
“We are big, but not that big, our per capita income will be USD 2500, while theirs will be USD 70,000. Therefore, a balanced decision should be taken keeping all these things in mind,” the former union minister said.
President Donald Trump has indicated that the ongoing negotiations between India and the US for a much-anticipated interim trade deal are on track and it could be sealed soon.
Trump said the proposed deal could provide American companies greater access to the Indian market in line with the trade pact between the US and Indonesia.
India and the US have been holding negotiations for the trade pact primarily to keep the tariffs below 20 per cent.
On the other hand, India has indicated that it will not enter into the trade deal in a hurry.
India does not enter into any trade agreement based on deadlines and will accept the proposed trade deal with the US only when it is fully finalised, properly concluded and in the national interest, Commerce Minister Piyush Goyal said earlier this month.
An Indian commerce ministry team is in Washington for another round of talks on the proposed trade agreement.
India has hardened its position on the US demand for duty concessions on agri and dairy products. New Delhi has, so far, not given any duty concessions to any of its trading partners in a free trade agreement in the dairy sector.
New Delhi is seeking the removal of this additional tariff (26 per cent). It is also seeking the easing of tariffs on steel and aluminium (50 per cent) and the auto (25 per cent) sectors.
Trump announced heavy tariffs on a number of countries, including India, on April 2. However, it was soon postponed for 90 days until July 9 and later to August 1. PTI SKC ZMN
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