Special trading ties with America is not the only export game in India

Copyright © HT Digital Streams Limit all rights reserved. Opinion Mint EditorsBEAMER 3 MIN MIN Read 22 Apr 2025, 07:30 AM IST US Vice President JD VIECE’s visit is expected to end the basis and may be possible for a possible visit by Trump later. (via Reuters) Summary US Vice President JD Vve’s visit to India could speed up progress on a trade agreement with the US, although controversial areas still. In the meantime, we have a good reason not to ignore Beijing’s casing. US Vice President JD Vance’s India visit has increased the hope of a rapid progress in a trade agreement between the two countries. He is here with his wife Ushha Vance, whose parents are Indian origin, and their children. His itinerary contains the usual tourist attractions. But the importance of his tour is not lost to anyone. Both Washington and New Delhi want an interim trade agreement to beat rapidly, even if it is before July, when President Donald Trump’s 26%-up-to-date tariff breaks, look too ambitious. Vance’s visit is expected to end the basis and may be the way for a possible visit by Trump later. Also read: How Trump’s advisors are naturally tied in knots about his tariff obsession, it is easier to reach a consensus than done. For the Narendra Modi government, the granting of easy market access to US goods will require the re-calibrations and intercourse of policy. Local manufacturers will be uncomfortable with concessions, while farmer interests must be kept in mind. If our farmers consider exposure to competition from US farms as a threat, a political setback could brew. As the 2020-21 storm showed about an attempt to shift in agricultural policy, this sector expects direct state support with no quarter awarded for market-driven adjustments taking time. But Trump’s hard ball approach can push New Delhi out of his comfort zone. Concessions to the US look inevitable. But where can it be made? A few easy choices have been made by the government of India. Bourbon -whisky and large motorcycles, for example, already have a smoother ride in liquor cabinets and to Indian streets. Since it is markets with low sales, the impact will not upset much. Also read: Himanshu: Trade offerings should not injure the interests of Indian farmers in many other categories; Lowering import barriers can encourage local players to increase their game and compete harder with US opponents. To the extent that it helps to keep Indian businesses on their toes, trade unity is welcome. The approach of foreign competitors on one’s home field serves as a prediction to the exploitation of markets abroad. However, this logic does not apply completely to a sector that is essential for food security and like agriculture, such as agriculture, remains. Rates on some nuts and other objects that we barely grow can be reduced, but for many others, local livelihoods would be a great consideration. Dairy products are especially loaded. India has deep discussions about edible objects made from the milk of cattle fed with animal feed with animal protein content. Such feed mixes are common in the West, but even ‘Red Dot’ labeling is perhaps not sufficient to defend the sensitivity of Indian consumers who see all dairy products as ‘pure vegetables’. Given the US formula for proposed country-specific rates, New Delhi plan is likely to focus on reducing our $ 40 billion plus trade surplus with it. Oil purchases and defense agreements can help the effort. Also read: Trade Face-Off: Will Trump’s America First of XI’s China fall back? Still, our trade policies should not be a mono focal in response to Trump’s agenda. Last week, Chinese Ambassador Xu Feihong said China could help reduce its trade surplus of nearly $ 100 billion in India by buying high quality Indian goods. We must respond to such overtors. If US-China Trade Bas snap, we can have the chance to include some deficits on both sides, for which we also talk to Beijing. Although China has so far failed to increase consumption, it must now do so to maintain its economic growth. It can expand its shelf space for true India. Perhaps even the US will soften its attitude if we indicate that we do not really consider the market as the lead for our execution. Catch all the business news, market news, news reports and latest news updates on Live Mint. Download the Mint News app to get daily market updates. More Topics #india China #india US Talks Mint Specialies