In strategic shift, India mulls a trade agreement with US
NEW DELHI: A day after opting out of the China-backed RCEP + (Regional Comprehensive Economic Partnership), the go nment said on Tuesday it was exploring an agreement with the US, a move many see as a strategic shift.
"At present, India is exploring trade agreements with the USA and the European Union, where Indian industry and services will be competitive and benefit from access to large developed markets," commerce and industry minister Piyush Goyal said.
The US is India's largest trade partner with imports and exports adding up to $88 billion in 2018-19. With exports of $52.4 billion, India had a trade surplus of $16.8 billion.
Ekdesi • USA
Opting out of RCEP is good for avoiding the clutches of the dragon. But you need a pact with one of the top 2 economic powers.
Ramakrishna murthy• bengaluru • 2 hours ago
better to go with usa never ever go with china in the long run all the countries in rcep will suffer massive losses.
Preamdeep Daas• Pune
When it comes to Money China has no ethics. For Chinese people Money is their God & for that they can go to any extent.
when it comes to trade US is better partner than China.
but US will help India since it wants to balance out china, makes no diff to US if they buy from India instead of china.
Ronin Pandey• 4 hours ago
It won''t make a difference unless the quality of purchase and price are to their liking. Chinese products in the US are still of a higher quality than those available in India.
Ravi Gupta • 10 hours ago
While with US India has surplus and millions of jobs due to IT outsourcing which is almost irreversible. India has great opportunity if they carefully tread the good relations path with US
Ashok Amin • USA • 2 hours ago
Modi knows well both China and US.
Madan Mohan Siddhanthi • Mumbai • 9 hours ago
Any day US is better option than China , but do not ever forget all nations will look to benefit from others max .if we are weak so we need economic power and Defence supremacy .
Evans Sumitra• New York, USA. • 1 hour ago
There is no doubt about it.
ONE LINER Challenge • 9 hours ago
MODI JI IS A STRATEGIC GO GETTER
PUTIN FOR DEFENSE SUPPORT AND TRUMP FOR TRADE SUPPORT- THAT''s TWO BIRDS IN ONE SHOT-
Mayakoushik • 10 hours ago
Thank god we deached chinese effort.
Suresh • Hong Kong • 7 hours ago
Every country that has worked with USA has prospered be it China, Japan, Taiwan, HK or Korea
India needs to re-look its economic strategy.It should not open its markets to cheap imports from China rather it should build strong manufacturing base n cut imports
Putsomenamehere • India • 6 hours ago
Free trade deal with the US is pointless unless there's free movement of people. This is because India's only profitable export is labor.
Dan Shaw • 9 hours ago
Not joining RCEP was wise, we would have suffered due to conniving Chinese.
patel Sunny • 1 hour ago
It is better to have trade pact with US than pact with China
anthony • goa • 2 hours ago
US has banned Indian basmati and farm products due to high pesticides in them
Chanakya • 4 hours ago
Well done modi