India and the United States will resume trade talks on Friday. India and the United States are having dismal times pertaining to trade tariffs and open market economy.
India has surged up tariffs on foreign goods to give vent to the local industry and also to create more jobs for youth. Mr. Donald Trump did not hail Modi decision and adopted a tit for tat policy. Mr. Trump also urged Indian authorities to reexamine the tariffs and longed for easier access to Indian markets.
Mr. Modi was re-elected as the premiere of the world’s largest democracy in May. Since then he has been enforcing economic policies under the umbrella of a nationalist move. He wants indigenous industries to flourish and prosper. Additionally, he wants to create jobs for the Indian youth.
Trump and Modi to resume trade talks
Trump and Modi met on the sidelines of the G20 summit. They decided to make adjustments by resuming talks. The talks are going to resume tomorrow.
Mark Linscott, a former USTR official said that free trade pact is the ultimate solution. Trade and economy are essentials and have a bigger role to play in India US strategic ties.
The trade between India and the US was worth $142.1 billion before Modi was reelected as Indian premier. India had the advantage of having a surplus $24 billion.
India and the United States are key strategic partners. India is a fast-growing economy. India has taken the third slot in the list of most developed and highly sustainable economies. Relationship between the US and India have soared but the tensions will release over a period of time because they share common Socio-political and strategic interests and complement one another.
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