CrackitToday App

US-India Bilateral Free Trade Agreement

US-India Bilateral Free Trade Agreement:

Recent comment by Minister of Commerce and Industry about the prospects of US-India bilateral free trade agreement being very bleak now

Other key highlights of the speech

  • This is the first time the position of the new administration has been made official by both the government
  • Despite this, both the countries have resolved to step up effort to resolve trade issues between them
  • Some of the trade issues between the two countries include: non-tariff barriers, entering mutual recognition agreements, aligning of quality international standards
  • The minister also hoped a bilateral FTA would be signed with Bangladesh soon
  • He also expressed confidence that India would soon be signing ‘Early harvest deal’ with Australia soon
  • Similar treaty is expected to signed between UK, UAE and other Gulf Cooperation Council (GCC) in due course of time