Ongoing India-US trade negotiations are critical in addressing these issues including the secondary and tertiary effects of high tariff by the US on Indian goods, the monthly economic review released by the ministry said.
Gor, who currently heads the White House Presidential Personnel Office, will also take on the additional responsibility of Special Envoy for South and Central Asian Affairs, pending confirmation by the US Senate.
Among the most ambitious of the proposals under consideration is the development of an undersea cable that will carry solar energy from India to Singapore.
The two leaders discussed ways to strengthen bilateral ties, focusing on enhancing trade and investment partnerships and exploring collaboration in key sectors such as pharmaceuticals, petroleum, and ceramics. The minister also invited his Saudi counterpart to visit India at the earliest.
Trump said the proposed deal could provide American companies greater access to the Indian market in line with the trade pact between the US and Indonesia.
The Indian team was in the US from June 26 to July 2, aiming to finalise an interim trade agreement that could help avoid a hike in tariffs on Indian exports.
US President Donald Trump on Thursday said a ‘very big trade deal’ might be signed with India soon
During his trip, the minister engaged with several top UK officials and industry leaders, focusing on strengthening bilateral relations through collaboration in financial frameworks, sustainable finance, and emerging technologies such as artificial intelligence.
Shipping became a concern for Indian exporters during the Red Sea crisis, when freight rates increased sharply due to additional charges from foreign shipping companies. To address such issues and promote the sector, the Union Budget proposed setting up a Maritime Development Fund.
This move follows the direction given by Prime Minister Narendra Modi and European Commission President Ursula von der Leyen during the EU Commissioners’ visit to New Delhi in February this year.
