India’s merchandise exports to US remain positive, despite 50% tariffs, while imports from US grew by 12.85% in the first three quarters of the financial year.
UK, EFTA already in the bag and EU on the way, many members of RCEP except China signed up, and even restrictions on China being lifted, India has changed its mind on trade.
Two sides have held multiple rounds of negotiation to arrive at a balanced & mutually beneficial trade agreement & a deal was close on several occasions, asserts MEA.
India, Howard Lutnick says, was uncomfortable with a Modi-Trump call & that let a negotiated deal fall through & when Delhi was ready for a deal, Washington wanted different terms.
The year began with two major trade announcements—opening of negotiations for “first tranche” of a bilateral trade agreement with the US following PM Modi’s visit to Washington.
CEOs were optimistic in 2025, expecting lower taxes & more market-friendly policies from Trump. Then came Liberation Day. Market fell, uncertainty rose. Nonetheless, US economy persisted.
November exports to the US saw 10% growth from the previous month. Overall, in the first 8 months this fiscal, the merchandise exports to the US touched has touched $59bn.
With regional parties struggling to project a unified Opposition in Parliament, and no leader in Delhi able to mediate, Centre-state tensions are playing out as open conflict.
Instead of buying more Mirages outright in early 2000s, the requirement was tweaked in favour of a medium-weight, multi-role fighter with Mirage-like performance.
Pakistan not only has zero chance of catching up with India in most areas, but will inevitably see the gap rising. Its leaders will offer its people the same snake oil in different bottles.
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