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Today's Paper | November 28, 2024

Published 07 Nov, 2024 04:55pm

With Trump win, India open to freeing up market access for US firms, sources say

India is open to offering easier market access for US firms if Washington reciprocates under President-elect Donald Trump, who has long called out New Delhi for its high tariffs, sources aware of the matter said, Reuters reports.

“India is open to lowering tariffs for entry of US companies if that means better trade terms for Indian goods,” said one of the sources aware of the government’s thinking, who spoke on condition of anonymity.

The South Asian nation could lower import tariffs in sectors such as automobiles, the source added.

“We had a fairly good convergence during his first term in office,” said Harsh Vardhan Shringla, who was India’s ambassador to Washington during Trump’s first term.

“I think his second term will be even better because the two sides have developed a certain amount of mutual understanding and respect, especially at the level of the leaders.”

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