New Delhi, March 8 -- Amid President Donald Trump's claim that India has agreed to lower tariffs on US goods "because somebody is finally exposing them", sources said today that India has reduced tariffs significantly for key developed countries as part of FTAs, and similar negotiations are currently on with the EU and UK, as also with the United States as part of a trade deal.
According to the sources, in February 2025, India and the US agreed to negotiate the first tranche of a mutually beneficial multi-sector Bilateral Trade Agreement (BTA) by the Fall of 2025.
Prime Minister Narendra Modi and President Trump agreed to designate senior representatives to advance the negotiations. They were to work towards increasing market access, redu...