India-US trade deal unlikely before November presidential elections

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The India-US mini trade deal is unlikely to see the light of day before the November presidential elections in the United States, officials said as New Delhi and Washington are negotiating a deal to iron out differences on trade issues to boost economic ties.

The South Asian country has sought 100% restoration of benefits under the GSP (Generalized System of Preferences) scheme and duty concessions for some agricultural products.

Worth mentioning here is that the United States remained India’s top trading partner for the second consecutive fiscal in 2019-20. According to the available data, the bilateral trade between the US and India stood at USD 88.75 billion in 2019-20.