India-US trade ties hold "ample scope" but also face constraints: Parliamentary Committee on Commerce Chief
New Delhi, May 22
Parliamentary Standing Committee on Commerce Chairperson Dola Sen on Friday said the panel is comprehensively evaluating India-US trade relations, covering both "possibilities" and "constraints" across key sectors including agriculture, textiles, automobiles, steel, fisheries and chemicals.
Speaking exclusively to ANI after a meeting of the Parliamentary Standing Committee on Commerce in New Delhi, Sen said the committee held discussions with the Ministry of Skill Development and industry bodies including FIEO (Federation of Indian Export Organisations), CII (Confederation of Indian Industry) and FICCI (Federation of Indian Chambers of Commerce & Industry) as part of its ongoing study on the "Evaluation of India-US Trade Relations."
"We are discussing the evolution of Indo-US trade relations on tariff hike, on dollar-rupee relationship, on crude oil and petrol-diesel comparison for the last 15 years or 20 years, on textile sector, on automotive sector, on leather sector, on fisheries, on marine products, on agriculture, on gems and jewellery, on chemicals including polymers and plastics, on steel sector, etc. All the relevant subjects," Sen told ANI.
She said agriculture and agro-based industries remain a key focus area for the committee.
"We are an agrarian country, so agriculture and agro-based industry is also our deep concern," she added.
The committee meeting comes amid ongoing discussions between India and the United States on expanding bilateral trade ties and working toward a broader trade agreement.
When asked about the outlook for India-US trade relations, Sen said the committee was examining both opportunities and challenges before finalising its recommendations.
"On Indo-US trade relationship, we are discussing the evolution and there are ample scopes but there are constraints also. So we are addressing both," she said.
Sen, however, declined to disclose specific recommendations or observations made during the meeting, citing parliamentary ethics and confidentiality norms followed by standing committees.
She also confirmed that discussions around the proposed agreement between the two countries were part of the committee's deliberations.
"Yes, we are discussing agriculture and agro-based industries too. So we are trying to cope up the subject in a comprehensive manner, and there are constraints, there are possibilities," Sen said.
The United States Embassy in India on Friday highlighted the upcoming official visit of US Secretary of State Marco Rubio, emphasising the central role of the United States-India Comprehensive Global and Strategic Partnership and the Quad in maintaining a free, open, and resilient Indo-Pacific region.
In a post on X, the US Embassy highlighted growing cooperation among Quad nations on strategic and economic issues in the region.
"Standing together for a free and open Indo-Pacific-From supporting regional security to diversifying critical minerals supply chains, @SecRubio's upcoming visit to India emphasizes the importance of the Quad partnership", it said.
— ANI
Reader Comments
Good that they're discussing dollar-rupee dynamics. Our rupee keeps depreciating while exports face headwinds. Need a stable currency and reduced dependency on US markets. Also, why no mention of IT services? Our biggest export!
As someone living in the US, I see the potential. But US corporates want easier access to Indian retail and insurance sectors. India should negotiate hard - give market access only when US removes tariffs on our steel and agri products. Fair trade, not free trade.
"Ample scope but constraints" - that's the story of every India-US deal. 😅 America wants to de-risk from China, but India's tariff regime scares investors. Meanwhile, Indian exporters struggle with US regulations. Let's hope the committee finds a middle path. Bilateral trade can easily double in 5 years with the right framework.
Respectfully, committees like these often produce generic reports. What we need is action - faster clearances for Indian pharma companies, easier visas for our professionals, and technology transfer commitments. But happy to see agriculture getting prominence. Our farmers deserve better export opportunities.
The Quad angle is interesting. If trade ties strengthen under Quad framework, India can become a manufacturing hub for US companies looking to move out of China. But we need to fix our logistics - ports, roads, and customs delays. No point having great trade deals if our infrastructure can't handle it.
Constraint number 1: US insists on 'data localization' exceptions for their tech giants in trade deals. Constraint number 2: their non-tariff barriers on Indian agri products (sanitary/phytosanitary standards). Let's hope our committee highlights
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