India Buckles to Trump? MoS Finance says Focus Now on Boosting Market Access and Tariff Cuts

India and the United States are set to prioritize boosting market access, slashing tariff and non-tariff barriers, and strengthening supply chain integration as part of their efforts to deepen bilateral trade, Minister of State for Finance Pankaj Chaudhary announced on Monday.

In a written reply in the Lok Sabha, Chaudhary outlined the roadmap for a mutually beneficial, multi-sector Bilateral Trade Agreement aimed at doubling trade to $500 billion by 2030.

“India remains committed to engaging with the US to broaden and enhance trade ties in a fair and balanced manner,” he said.

The negotiations come amid US President Donald Trump’s “America First” policy, which includes reciprocal tariffs on countries like India with higher import levies, set to take effect from April 2. The proposed agreement seeks to address these disparities while fostering greater economic collaboration.

Both nations, key trading partners, are working to unlock new opportunities and streamline commerce, with an emphasis on integrating supply chains to meet ambitious trade targets over the next five years.