“Indian farmers and U.S. manufacturers of medical devices could be among the main winners in a trade package under negotiation, as Washington and New Delhi look to remove long-standing irritants to ties, sources familiar with the talks said,” Reuters reports.
“Having skirmished for months over tit-for-tat tariffs on steel and some agricultural products, the two sides began talks in June that also cover India’s concerns over U.S. steel tariffs and U.S. problems with Indian tariffs on imported IT equipment,” Reuters reports. “‘We are closely negotiating a discrete package of trade issues. It will amount to a pretty substantive agreement,’ said a source with knowledge of the negotiations… The source said the two sides expected to close the deal in the next few weeks.”
“The current discussions, however, are focused on removing outstanding sources of friction, and are not aimed at creating a bilateral free trade agreement, sources from both sides said,” Reuters reports. “The United States has also been urging India to lower the input costs of components for IT that would allow U.S. companies to manufacture in India as part of Modi’s flagship Make-in-India campaign. These affect firms such as Apple Inc and Qualcomm Inc with plans to set up operations in India. ‘In this kind of a package, everything is interlinked even though our mutual concerns are on different issues,’ one of the sources said. ‘But we need to reach an agreement on everything that’s on the table.'”
Read more in the full article here.
MacDailyNews Take: Hopefully, the roadblocks that are currently in place preventing Apple from fully competing in India will be removed!
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