US and India on the brink of a major deal

Multiple administration officials and industry insiders have pointed out that US and India are engaging in a major trade negotiation breakthrough. “This is not going to remove all of the trade frictions between India and the U.S. — those are substantial— but it is a step in the right direction,” said Akhil Bery, Eurasia Group. According to Nisha Biswal, president of the Chamber of Commerce’s U.S.-India Business Council, it could iron out some differences “that have been creating some prickliness” between the two sides. For instance, the negotiations entail reinstating the GSP status on India, agricultural market access, medical device pricing, and the reduction of information and communications technology tariffs by India. Overall, the two countries are setting a convivial tone for Modi’s trip to the United States ahead of the United Nations General Assembly session in New York.