GTRI Urges India To Secure Written Assurances In US Trade Negotiations

New Delhi, Jul 28 (KNN) The Global Trade Research Initiative (GTRI) has recommended that India proceed with careful consideration during its ongoing trade negotiations with the United States, citing recent experiences of other nations including Vietnam and Japan as cautionary examples.

The economic think tank emphasised the importance of establishing clear documentation protocols to prevent potential misunderstandings.

GTRI stated that New Delhi should require jointly issued written statements before finalising the terms of any trade agreement with Washington.

The organisation's concerns stem from recent developments involving Japan's trade discussions with the United States.

A Japanese government document released on July 25 revealed significant discrepancies between Japan's interpretation of a new trade arrangement and the characterisation presented by President Trump three days earlier.

On July 22, President Trump described the agreement as securing substantial Japanese investments, robust tariff protections, and guaranteed market access for US agricultural exports, including rice products.

However, Japan's official summary, published by the Cabinet Secretariat, outlined a considerably more limited framework that remains under negotiation without binding commitments, according to GTRI Founder Ajay Srivastava.

Srivastava noted that India should approach its trade negotiations with heightened awareness, drawing insights from the experiences of countries such as Vietnam and Japan in their respective dealings with the United States.

Current bilateral trade discussions between India and the United States are progressing toward a comprehensive agreement. Both nations are targeting the completion of the initial phase of negotiations by the fall period, specifically between September and October of this year.

(KNN Bureau)