Indian Parliamentary Panel Urges Swift US Trade Agreement

The Rajya Sabha Department-related Standing Committee on Commerce has urged the Indian government to swiftly conclude a proposed Bilateral Trade Agreement (BTA) with the United States. In a report submitted to Parliament, the committee recommended that India secure complete exemptions from future US tariff increases for critical sectors, including smartphones, pharmaceuticals, and critical minerals.

The panel emphasized the necessity of a time-bound roadmap to reach the Mission 500 goal, which aims to increase bilateral trade to $500 billion by 2030. To mitigate regulatory volatility, the committee proposed that the Directorate General of Foreign Trade establish a dedicated watch desk to monitor US import rules and customs audits in real time.

Further recommendations include achieving tariff parity with competitors such as Mexico, Canada, and Switzerland, and fast-tracking Mutual Recognition Agreements for agricultural standards and professional services. The committee also advocated for increasing high-value knowledge exports in cybersecurity, digital health, and artificial intelligence to ensure long-term competitiveness.