India, April 11 -- India is considering importing gold and other high value items, including silver, platinum and precious stones from the US to address Washington's concern of a significant trade deficit with India, two people aware of the matter said.

Trade diversification could be one of the ways to bridge the bilateral trade deficit with the US, they said requesting anonymity. Under the ongoing negotiation of a bilateral trade agreement (BTA),the two partners are considering supply chain integration for mutual gains. Under BTA, concessional duties for precious metals and finished jewellery could be win-win for both, they said.

"The US is a leading producer of gold, silver, and platinum. India can easily source a sizable quantity of ...