India may not offer 'zero-for-zero' tariff deal to US as party of trade pact: Report

The two sides will begin talks on the trade deal this week with the shape of the pact likely to be clear by the end of May, the newspaper said

A “zero-for-zero” tariff agreement between India and the US is unlikely under the bilateral trade deal, The Economic Times reported on April 14 citing top government officials.

The trade agreement is set to be a comprehensive deal covering goods, digital trade, talent, trade barriers, among others, the report said.

The two sides will begin talks on the trade deal this week with the shape of the pact likely to be clear by the end of May, the newspaper said.

Moneycontrol could not independently verify the report.

Moreover, the report citing a top official part of the trade talks, said “zero-for-zero” is only possible between developed countries.

On April 10, Moneycontrol reported that  India is trying to sign a partial bilateral trade agreement with the US before the end of 90-day pause on higher tariffs announced by President Donald Trump.

In the next 90 days, New Delhi will pursue a three-pronged strategy aimed at invigorating its trade relations and protecting its domestic industry, a source told Moneycontrol.

Union trade minister Piyush Goyal on April 11 said India presents a compelling case to the US for a bilateral trade deal, given the outlook on growth and demography.

US accounts for 18 percent of India's total goods exports and 6.2 percent of imports.