Recently, there have been a lot of speculations about the Prime Minister of India making a lot of foreign trips in order to strengthen the bilateral ties between countries and bring a lot of prosperity in India, in almost every possible department. The move has been successful to quite some extent but if there is one area that needs more addressing, it the trade relations that exist between India and the US, which seems to be in the decline. However, US has agreed that they were looking forward to making things better between the two countries again if they came with some kind of “creative” proposal that could benefit both the parties and their interests.
As the situation stands now, US has revoked the duty-free status on goods that are imported from India which is a testimony of the bilateral ties between the two countries being highly frustrating. The agricultural, as well as the handloom sections, are the ones that have been affected the most and is reflective of the position of Trump’s administration towards this problematic situation.
According to the US, though they engaged in quite a few discussions with the Indian Government, they did not receive any final verdict on giving America more access to the Indian Markets and its good and products which forced them to evoke the GSP status that India held. Despite all this, a senior member of the Secretary of State recently released a statement stating that they were ready to overlook the past history and come to a solution as far as trade between the countries is concerned.
Even when the Foreign Secretary of India visited America with a motive of discussion on multiple fronts, it was made clear to him that the ball is in the Court of India and they should probably suggest something conducible to both. Even though the US wants immediate results, the possibility of that happening fast seems like an improbability mainly because the elections are looming over her head.