India–US interim trade pact moves toward a signed legal text

The Hindu
The Hindu 6h
India’s Commerce Secretary said the joint statement on the India–U.S. interim trade pact is being converted into a legal agreement targeted to be finalised and signed by end-March.
India–US interim trade pact moves toward a signed legal text
Why it matters
An end-March signing target pulls forward the window for exporters and importers to plan for any tariff, quota, or market-access changes that will become enforceable once the text is executed. The government’s stated position that “very sensitive” sectors (including agriculture-linked areas such as dairy and fisheries) are protected reduces the likelihood of near-term import liberalisation in those categories, keeping current domestic protections and sourcing assumptions intact. The White House’s revised fact sheet dropping a reference to “certain pulses” signals that pulses may be excluded from the immediate market-access package, affecting commodity traders’ and food processors’ expectations for U.S. access and Indian import competition.

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