India, USA ‘Very Close’ to Sealing Trade Pact: Both Sides Converge on Core Issues, Legal Language Being Finalised Amid Tariff Uncertainties

India and the United States are "very near" to concluding their proposed bilateral trade agreement (BTA), as both sides are converging on most issues and working on the legal language of the pact, an official said on Friday.
The two sides are finding common ground on pending matters, the official added, ruling out the emergence of any new issues for now.

"We are very near as far as the deal is concerned. We are converging on most of the issues. As of now, no major gaps are being seen, the official said, adding that few differences remain to be resolved.
However, uncertainty about the 50% tariffs persists. Effective August, the USA imposed 50% tariffs on India, half of which are penal tariffs for purchasing Russian energy. India's goods exports to the USA fell 12% year-on-year in September, while the country's total exports rose 6.74%.
"Talks are progressing well and we are negotiating very positively, finding some common ground on pending issues, the official said.

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