A three-day meeting between Indian and US officials aimed at finalizing the legal text of the interim trade agreement will begin in the US on February 23, PTI news agency reported citing a source.
"The Indian and US delegations will begin their three-day meeting on Monday," the source said. The representative of the Ministry of Commerce, Darpan Jain, will head the Indian delegation. Earlier this month, India and the US issued a joint statement announcing the completion of the first part of the trade agreement. The provisions contained in the declaration must now be turned into a legal document to be signed by both parties.
This is expected to happen in March. The US announced to reduce the reciprocal customs duties on Indian goods from 25% to 18%. Washington also announced the abolition of 25% customs duties imposed by India on the purchase of Russian oil.
