USISPF Chief Calls for Resolution in US-India Trade Negotiations Before November Deadline

The US-India trade relationship is currently at a critical juncture with both nations working to finalize an important trade agreement before November. In an exclusive NDTV interview, Mukesh Aghi, President and CEO of the US-India Strategic Partnership Forum (USISPF), shared measured optimism about the progress while strongly denouncing Washington's 50 percent tariff on Indian products as "unfair" and detrimental to partnership principles.

Having participated in recent consultations in both Washington and New Delhi, Aghi confirmed that several rounds of negotiations have brought the two sides closer to an agreement. "Discussions between External Affairs Minister S Jaishankar, Secretary of State Rubio, and the USTR chief have made significant progress," he stated. "We anticipate that by the end of this month or early November, we'll establish a trade deal allowing both nations to move forward."

However, this optimism faces political constraints. The final decision now lies with US President Donald Trump, who has imposed substantial tariffs - a standard 25 percent plus an additional 25 percent penalty - on Indian exports. "It's inappropriate to designate a nation as your strategic partner and simultaneously impose a 50% tariff," Aghi remarked. "We must adjust course and complete negotiations promptly."

The recent Shanghai Cooperation Organisation (SCO) summit in Tianjin introduced additional complexity to the already intricate negotiations. A widely reported meeting between Prime Minister Narendra Modi, Russian President Vladimir Putin, and Chinese President Xi Jinping generated concern in Washington regarding India's strategic positioning. "India maintains a balancing role in global geopolitics," Aghi clarified. "While the summit's visual impression resonated strongly in DC, the relationship encompasses much more - $200 billion in trade, defense collaboration, and six million Indian-Americans connecting both nations."

Among various friction points in bilateral relations, the new $100,000 fee on H-1B visas has created anxiety within India's technology sector. However, Aghi minimized concerns about its impact on mobility. "This isn't a deal-breaker," he noted. "For premium talent, it represents a minor expense distributed over six years. In fact, current visa holders become more valuable as demand increases for top Indian engineers and innovators."

Nevertheless, he cautioned that the fee could negatively affect sectors such as education and healthcare that rely on Indian teachers and nurses. "It will impact lower-tier tech workers and essential positions in teaching and nursing - areas already experiencing shortages in the US," Aghi warned.

Aghi also emphasized ongoing momentum behind the India-Middle East-Europe Economic Corridor (IMEC), initially announced at the 2023 G20 summit. "Despite conflicts in Gaza, trade and logistics partnerships between India, the UAE, and Europe continue to expand," he explained. "This extends beyond maritime routes to encompass financial, digital, and skills corridors."

With both Trump and Modi scheduled to attend the upcoming ASEAN summit in Malaysia, speculation increases regarding a potential bilateral meeting. "If a trade deal materializes, ASEAN would provide an ideal venue for signing it," Aghi suggested. "Without such an agreement, a photo opportunity serves little purpose."

Despite political challenges, Aghi underscored the enduring strength of the partnership. "The relationship remains intact. Investments continue, defense cooperation strengthens, and people-to-people connections remain robust," he affirmed. "America First and Atmanirbhar Bharat can coexist harmoniously - the challenge lies in finding the right balance."

As negotiators in both capitals work against the clock, Aghi's message was unambiguous: "The time has come to transition from rhetoric to resolution."