India, US to hold crucial trade talks from December 10

India, US to hold crucial trade talks from December 10

India and the United States will hold three-day talks on a proposed bilateral trade agreement from December 10.

The discussions, led by US Deputy Trade Representative Rick Switzer, are critical for finalizing the first phase of the pact.

This is their second visit since a 25% tariff and an additional penalty were imposed on Indian goods entering the US market due to Russian crude oil purchases.

Indian delegation to be led by Darpan Jain

The Indian side of the trade talks will be led by Darpan Jain, Joint Secretary in the Department of Commerce.

Meanwhile, Switzer will head the US delegation.

The talks are important as India hopes to finalize a framework trade deal with the US this year itself.

Two parallel negotiations underway between India and US

India and the US are engaged in two parallel negotiations: a framework trade deal to address tariffs and a comprehensive trade deal.

In February, leaders from both countries had directed officials to negotiate an agreement.

The first phase of the pact was expected to be concluded by fall 2025, with six rounds of talks already held.

US remains India's largest trading partner

The US has been India's largest trading partner for four consecutive years, with bilateral trade worth $131.84 billion in 2024-25.

The US accounts for nearly 18% of India's total goods exports, 6.22% of imports, and 10.73% of total merchandise trade.

However, Indian exporters have reported a decline in merchandise exports to the US due to heavy tariffs imposed by Washington.