Amid the ongoing trade talks between the US and India, External Affairs Minister S Jaishankar and US Secretary of State Marco Rubio met here on Monday and discussed bilateral relations as well as regional and global issues. The meeting took place on the sidelines of the Association of Southeast Asian Nations (ASEAN) summit.
Jaishankar wrote in a ‘post’ on social media, “Glad to meet Foreign Minister Rubio this morning in Kuala Lumpur. Appreciated the discussions on our bilateral relations as well as regional and global issues.” The meeting took place in the backdrop of a proposed bilateral trade agreement between India and the US which, according to an official, is ”very soon”.
So far, five rounds of talks have been completed for the first phase of the bilateral trade agreement between India and America. Jaishankar held separate talks on Sunday with Malaysian Prime Minister Anwar Ibrahim, Singapore Foreign Minister Vivian Balakrishnan and Thailand’s Foreign Minister Sihasak Phuangketkeo. ASEAN, comprising 11 countries, is considered one of the most influential groupings in the region, with India, the US, China, Japan and Australia among others as its dialogue partners. As the current chair of the grouping, Malaysia hosts the annual ASEAN summit and related meetings in Kuala Lumpur.
India’s recent stance on trade talks
Last week, Union Commerce and Industry Minister Piyush Goyal had clarified that India will not sign any trade deal in a hurry nor will it reject conditions imposed by partner countries that limit its trade options.He pointed out that trade agreements are not just about tariffs or market access, but about building trust, long-term relationships and creating sustainable frameworks for global trade cooperation.
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Goyal said New Delhi will adopt a balanced approach. “In a very short-term context, it’s not about what’s going to happen in the next six months. It’s not just about being able to sell steel to the US,” he said, pointing to ongoing trade talks with Washington.
He stressed that India’s approach towards trade negotiations is not driven by the pressure of meeting immediate trade targets, but by a long-term view.
“Trade agreements are for the long term. It’s not just about tariffs, it’s also about trust and relationships. Trade agreements are about businesses too,” he said.
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Commerce Secretary Rajesh Agarwal on Friday said trade talks between India and the US are “progressing well” and both sides are in “unanimity” on most issues, indicating that a mutually beneficial agreement is on the way.
Referring to the bilateral trade agreement (BTA) proposed by Prime Minister Narendra Modi and US President Donald Trump on February 13, Aggarwal said, “I think we are very close.”
The first part of the proposed BTA is expected to be completed by autumn, which is September to November in the US, according to the February joint statement.
Trade negotiators from both sides are in regular contact to resolve issues related to non-tariff barriers and are currently working on sorting out the language of the draft agreement, HT had earlier reported quoting a government official with direct knowledge of the matter.