Parliament Panel Calls for Early India-US Trade Deal

• Parliamentary panel recommends early conclusion of the India-US Bilateral Trade Agreement.
• Committee seeks protection for Indian exporters from unpredictable US tariff hikes.
• Report calls for stronger support to MSMEs, agriculture, textiles, gems and jewellery and other vulnerable sectors.
• Panel recommends a roadmap for achieving the $500-billion bilateral trade target by 2030.

GG News Bureau
New Delhi, 6th Aug: A parliamentary committee has recommended that the government conclude the proposed India-US Bilateral Trade Agreement (BTA) at the earliest while ensuring adequate protection for India’s economic and trade interests amid continuing concerns over US tariffs.

The Department-related Parliamentary Standing Committee on Commerce, headed by Rajya Sabha MP Dola Sen, presented its 200th report on the “Evaluation of India-US Trade Relations” to both Houses of Parliament on Thursday. The panel examined challenges arising from US tariff measures and their impact on key sectors of the Indian economy.

The committee held four meetings spanning more than seven hours and consulted government departments, financial institutions, export organisations, industry bodies and stakeholders from sectors including textiles, agriculture, automobiles, marine products, steel, chemicals and gems and jewellery.

Calling for greater predictability in bilateral trade, the panel recommended a time-bound roadmap for achieving the Mission 500 objective of taking India-US bilateral trade to $500 billion by 2030. It also sought stronger cooperation in critical technologies, investment and supply-chain resilience.

The committee expressed concern over rapidly changing foreign tariffs and recommended that India negotiate exemptions for key exports such as generic medicines, critical minerals and smartphones from unexpected US tariff increases. It also proposed a dedicated DGFT mechanism to track US customs actions and alert Indian exporters.

The report noted that the US tariff on Indian goods, after being raised sharply and subsequently reduced, still stood at 18 per cent compared with an earlier 3 per cent, continuing to affect Indian exports and the wider economy.

The committee also called for sustained policy support for sectors including engineering, electronics, pharmaceuticals, chemicals, gems and jewellery, textiles, marine products, agriculture and leather, while recommending greater assistance to MSMEs through export finance, certification, digital platforms and integration into global supply chains.