India Parliamentary Panel Pushes for Accelerated US Trade Agreement

The report, submitted to both houses of parliament, identifies a wide range of sectors for inclusion, from generic pharmaceuticals and critical minerals to textiles, leather, and gems. Lawmakers specifically cited the damage inflicted on labor-intensive industries by current U.S. tariff measures, urging negotiators to pursue parity with competitors like Switzerland, Canada, and Mexico. Officials from both nations have indicated that talks are in their final stages, with a signing potentially occurring within the next few months.

To mitigate ongoing disruptions, the committee proposed the creation of a fast-response monitoring unit within the Directorate General of Foreign Trade to track regulatory shifts in Washington. Furthermore, the panel advocated for targeted financial support, including export credits and insurance for small businesses struggling with compliance costs. Beyond traditional goods, the recommendations encompass deeper collaboration in semiconductors, defense production, and emerging sectors like artificial intelligence and digital health, aiming to bolster India's high-value services exports.