Progress in US-India trade deal

Business Business: Trade talks between the US and India have picked up pace and an agreement is believed to be possible before the July deadline. US Commerce Secretary Howard Lutnick said in Washington that the two countries have found a solution that is in the interest of both.

Lutnick expressed hope in a video on social media that the agreement will be reached soon and it will benefit both the countries. The US is particularly demanding a reduction in tariffs on agricultural products, better market access for its businesses in India and more purchases of defense equipment. In return, India may get opportunities to increase exports.

Recently, there have been frequent meetings between US and Indian delegations, including high-level visits in April and May.

However, India has been accused of high duty structure and protectionist policy.