New Delhi, May 5 -- Amid continued trade talks with Washington, India has reportedly proposed to charge zero tariffs on steel, auto components and pharmaceuticals from the US on a reciprocal basis.

According to a report by Bloomberg quoting people familiar with the development, the reciprocal tariffs have been offered up to a certain quantity of imports from the US. Beyond the set limit, imported industrial goods would attract the regular level of duties, the sources said.

The offer was reportedly made by trade officials from the Indian side who visited Washington in late April to expedite negotiations on a bilateral trade deal.

A deal is expected to be closed by autumn this year, the report quoted the sources as saying.

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