India under pressure to seal trade deal with U.S. as deadline looms

Monday - Friday, 11:00 - 12:00 SIN/HK | 0500 - 06:00 CET

Pressure on India to seal a trade deal with the U.S. has intensified this week ahead of a fast-approaching Aug. 1 deadline, which will see tariffs increase to 26%.

A trade deal between the U.S. and Japan announced on Wednesday, which addressed sticking points on greater market access for American autos and agricultural products, has also added to the urgency for New Delhi.

Like Japan, India has resisted greater market access for American agricultural products to protect its local farmers, who form a sizable voting bloc. In its recent trade deal with the U.K., finalized on Thursday, India managed to safeguard its most sensitive agricultural sectors from tariff concessions.

Indeed, India’s Commerce and Industry Minister Piyush Goyal acknowledged that the sector was sensitive to India in an interview with CNBC on Thursday.