The India-US Interim Trade Framework: Strengthening Economic Cooperation and Market Access
In a recent development, industry leaders have hailed the India-US Interim Trade Framework as a crucial step towards enhancing economic cooperation and expanding market access for Indian enterprises. The agreement, according to experts, strikes a fine balance between opportunity and protection.
Rakesh Bhat, Co-Chairman of the FICCI J&K State Council and Managing Director of Shalimar Floorings, lauded the framework for its potential to unlock significant opportunities for micro, small, and medium enterprises, farmers, fishermen, women, and youth. At the same time, it ensures robust protection for India’s sensitive agricultural and dairy sectors.
Expected to be finalized by mid-March, the interim agreement aims to diminish trade barriers between India and the US while safeguarding domestic industries. Observers in the industry believe that this framework could particularly benefit export-oriented sectors and pave the way for new employment opportunities.
Bhat emphasized that the agreement is a well-rounded pact that not only fosters job creation but also uplifts rural livelihoods and promotes sustainable growth—aligning with the government’s vision of Viksit Bharat for a developed India by 2047.
