Govt to brief Tharoor-led panel on US, EU deals, Bangladesh polls on Tuesday
With key details still unclear and questions over who benefits more, the committee will be briefed by both ministries. Dubbed the "father of all deals," a joint statement said India will import $500 billion worth of US goods after President Donald Trump cut tariffs on Indian exports from 50% to 18%.
The Shashi Tharoor-led Parliamentary Standing Committee on External Affairs will hold a crucial meeting on Tuesday, during which the Ministry of External Affairs and the Ministry of Commerce are expected to brief members and make presentations on the India-US trade agreement.
With details of the deal still unclear and several questions unanswered over whether it benefits India or the United States more, the committee is set to be apprised of the finer points of the agreement by both ministries.
Dubbed the “father of all deals,” a joint statement by both sides confirmed that India will import goods worth $500 billion from the US after President Donald Trump slashed tariffs on Indian exports from 50 per cent to 18 per cent in one move.
However, clarity is still lacking on whether India will halt future purchases of Russian oil or open up its sensitive agricultural sector to the US.
Even after Trump claimed in a Truth Social post that India has “committed” to stopping oil imports from Russia, Foreign Secretary Vikram Misri said on Monday that New Delhi is keeping options open for sourcing energy from multiple suppliers.
Misri added that the focus remains on ensuring consumers receive adequate energy at the right price through reliable and secure supplies.
INDIA-EU FTA, BANGLADESH TIES ON AGENDA
Apart from the bilateral trade deal with the US, which has triggered an uproar among the Opposition, the closed-door meeting will also take up other key issues. Opposition parties have alleged that Prime Minister Narendra Modi is opening up India’s agricultural sector and is being pressured to stop oil purchases from Russia.
Other items on the agenda include the India–European Union Free Trade Agreement, described as the “mother of all deals,” and discussions on the upcoming general elections in Bangladesh.
With barely a week left for the Bangladesh general elections, India’s stakes in forging ties with the newly elected government are exceptionally high.
As relations with Dhaka under the interim government of Muhammad Yunus have spiralled downward, India will closely watch developments in its neighbourhood as Bangladesh goes to the polls without Delhi’s longtime ally Sheikh Hasina and her party.