India at advanced stages of trade talks with EU and US amid high US tariffs
India is in advanced negotiations to finalize trade agreements with both the European Union and the United States. Indian goods face a combined 50% import tariff in the US, which India deems unfair. Discussions aim to resolve these trade barriers while the India-EU deal focuses on comprehensive cooperation including technology and investment protection.
India is nearing the conclusion of trade agreements with the European Union and the United States, marking a significant development in its economic diplomacy. Commerce Minister Piyush Goyal stated that talks with both blocs are at advanced stages. In the US, Indian products face steep tariffs totaling 50%, including a 25% penalty tariff linked to India's oil purchases from Russia, on top of reciprocal duties. These tariffs have been denounced by New Delhi as unjustified. The India-EU Free Trade Agreement is also approaching a critical phase, with negotiations addressing key areas such as digital services, investment protection, intellectual property, as well as sensitivities in automobile and agriculture sectors. The EU talks are seen as an opportunity to establish a stable, technology-driven partnership as global protectionism rises. Meanwhile, persistent US tariffs have caused economic strain, disrupted supply chain strategies, and sparked calls within India for boycotting American goods. Despite tensions, ongoing dialogues reflect efforts to resolve disputes and strengthen India’s position in global trade amid shifting geopolitical dynamics.
