Trying to finalise trade deal with US, says India’s chief negotiator

India’s chief negotiator in the India-US trade talks said New Delhi is negotiating and finalising a deal with Washington. Rajesh Agarwal, addressing CII Export Logistics Program in New Delhi, said that India is also reviewing the ASEAN trade deal.

India will now enter Latin America too, and try to finalise deals with Chile and Peru.

Agarwal added that the nature of trade will now change and we need to be cognisant of that. “We will not export what we are exporting…The nature of commodities that we export, the nature of goods that we export is also going to change,” he said.

The negotiator said the fastest growing exports today is electronics, and is one of the top three sectors India exports. However, India is also becoming a key agricultural exporter.

Still, logistical challenges persist. He said India is now focusing on building logistics to enable better exports. “Our apples from Jammu and Kashmir go to global markets but it needs strong cold chain logistics,” he said.

Every time there is a geopolitical issue the logistics cost go up, he said, adding that India suffers high costs due to this. 

Meanwhile, Business Today had earlier reported that agriculture and dairy remained the main sticking points in the proposed trade agreement between India and the US. Sources said the decision now rests with Washington DC to take a call on the deal. A person familiar with the development stated that India is not keen on opening up sensitive sectors of agriculture, particularly dairy and genetically modified crops. These are issues of national interest, and the livelihood of many Indians, especially farmers, depends on them. The source added that the waiting game is on, with India firm on protecting its interests. Sealing the deal immediately could take time, but it is hoped that it will be done in the coming weeks before July 31.