New Delhi, Nov 27 Commerce Secretary Rajesh Agrawal informed the Parliamentary Standing Committee on Thursday that India’s exports to the United States have increased.
The Parliamentary Standing Committee on Commerce held a meeting during which the Commerce Secretary was summoned for a detailed review of India–US trade relations in the backdrop of rising tariffs imposed by the Trump administration.
Committee members sought multiple clarifications from the ministry—particularly on the depreciation of the Indian rupee against the US dollar and the impact of higher tariffs on Indian farmers. Members also pressed the ministry to explain the support measures being planned for industries that have been severely affected by the tariff hikes.
According to sources, after addressing the panel’s questions, the Commerce Secretary requested ten days to prepare detailed responses on these issues. The ministry is expected to submit a comprehensive written reply within this period.
Sources added that the next meeting of the Parliamentary Standing Committee on Commerce will take place on December 16. Officials from the Ministry of External Affairs, the MSME Ministry, and the Ministry of Textiles will also be invited for discussions on India–US trade relations. The Commerce Secretary’s submissions will form part of these deliberations.
Representatives from major industry bodies, including FICCI, ASSOCHAM, and other trade associations, will also participate in the December 16 meeting.
The Commerce Secretary said earlier this month that India and the US are “nearing closure” in their talks for signing the first tranche of the proposed Bilateral Trade Agreement (BTA).
Agrawal told journalists that the two countries have been holding regular virtual rounds of talks on the BTA. Although no formal deadlines can be set on the issue, the first stage of the trade talks is progressing swiftly, he added.
US President Donald Trump sent positive signals on strengthening U.S.-India relations this month, raising fresh hopes that a bilateral trade agreement between the world’s two largest democracies could be signed soon.
Trump told reporters at the White House that his talks with Indian Prime Minister Narendra Modi were “going great” and that a visit to Delhi could take place next year.
Earlier, Trump said that he plans to “lower tariffs” imposed on India “at some point”, indicating that a breakthrough in the trade talks could come soon.
“I think we're pretty close to doing a deal (with India) that's good for everybody,” Trump said, in answer to a question from the media, at the ceremony for swearing in Sergio Gor as the new US Ambassador to India.
--IANS
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