Mumbai, April 21: In a significant development, India and the United States have resumed bilateral trade talks as Defence Minister Rajnath Singh embarks on a three-day visit to Germany. This visit, which marks Singh’s first trip to Germany in nine years, aims to strengthen the strategic defence partnership between the two nations.
During his visit, Singh will engage in bilateral discussions with German Defence Minister Boris Pistorius, focusing on enhancing military engagement, cyber security, and artificial intelligence issues. The talks will also cover co-production and co-development under the Make in India initiative, with discussions on a potential submarine deal worth approximately $10 billion under Project-75(AI) being a key agenda item.
In parallel, the trade talks, which began on April 20, are being led by Indian delegation head Darpan Jain, Additional Secretary of the Commerce Ministry. The three-day discussions aim to revisit the global tariff structure imposed by the US and explore ways to reduce tariff rates, improve market access, and enhance supply chains and investments.
The outcome of these talks is crucial, especially considering the recent temporary 10% tariff imposed by the US on imports under the International Emergency Economic Powers Act. Both countries are working towards a bilateral trade agreement (BTA) expected to be finalized by 2025, with discussions on tariff reductions for Indian soybean oil, dry fruits, and wine also on the table.
As the largest trading partner for India, the US’s cooperation in these matters is vital for enhancing trade relations between the two nations.