New Delhi: In Trump’s tariff war, Alliance Treasury Secretary Nirmala Sitharaman said on Monday that he hopes to “positively conclude” the first part of the trade agreement with the United States by this fall. “The long-term interaction with the United States is not only for the relevant tariff issues, but also for the interests of our biggest trading partners, and we need to reach an agreement with it,” Sithalaman said in his speech.
Sitharaman is heading to the United States for a five-day tour, where she will attend spring meetings of the International Monetary Fund and the World Bank, as well as meetings of the G20 Finance Minister and the Governor of the Central Bank, according to a government statement. The Treasury Secretary also plans to meet with U.S. Treasury Secretary Scott Bessent and is expected to speak with officials from the U.S. Trade Representative’s Office.
The Treasury Secretary’s visit came in a week of multiple wars between the two countries as the alliance administration hoped to avoid U.S. tariffs through early trade deals and to establish ties with the Donald Trump administration. However, officials in New Delhi also hope to reach a deal with Washington at a 90-day pause on April 9 for the increased fees announced by major trading partners including India, including India.
India is reportedly willing to cut tariffs on more than half of the imports from the United States as part of the trade deal, with a total value of $41.8 billion in 2024. Sitharaman confirmed the deal and said India and the United States are actively participating in advanced trade negotiations. “The aim is to reach the first phase of the agreement in the fall. A bilateral meeting between Prime Minister Modi and the U.S. Vice President (currently in India) will focus on tariffs and trade agreements,” she said.
India needs to create 8 MN jobs for the next 10-12 years each year
New York: Chief Economic Advisor v Anantha Nageswaran said India must generate 8 million jobs per year for at least the next 10-2 years and increase its manufacturing share in GDP as it strives to achieve its vision of becoming a developed country by 2047.
Nageswaran said here on Saturday: “We have a vision to arrive in India by 2047. Apart from the size of India, the biggest challenge is that over the next 10-20 years, the external environment will not start around 1990 as it did in the past 30 years, which will not be as benign as people have in the past 10-20 years.”
“But in this case – this is given, you can’t choose an external environment beyond a certain point – we have to generate at least 8 million jobs per year for the next 10 to 12 years…and increase the manufacturing share of GDP, in the context of China, especially after inventory, especially after the dominance of the post-game.”
