Commercial talks in India on the right track, as the two sides aim to resolve definitions, buy oil and H 1B fees

Sources close to development said that the commercial talks between India and the United States are on the right track and led to a greater understanding between the two countries, but the goal is to find a comprehensive solution to all issues, including the customs tariff and the purchase of Russian crude oil. The Minister of Trade and Industry, Joach Joyal and a team of senior officials, including Rajish Agrouwal, Special Secretary, the Ministry of Trade and the Senior negotiator, in the United States this week to try to move forward with negotiations to obtain a bilateral trade deal.

GOYAL’s visit to the United States comes shortly after the American Trade negotiator Brendan Lynch, the assistant assistant to the commercial actor in South and Central Asia, in New Delhi and held discussions for a day with Agrawal on September 16.

The sources indicated that this is not the sixth round of commercial negotiations, but both countries hope to conclude the commercial deal as soon as possible. “These discussions are high. Talks will be held at the negotiating level at a later time,” they explained.

India and the United States were hoping that the first segment of the Bilateral Trade Agreement would lead this year.

For the United States, the purchase of India from Russian crude oil is still a major concern, and the sources said that discussions on this matter are still continuing. The United States imposed a 25 % punishment on India to continue buying crude oil from Russia, which it believes was a source of financing the war on Ukraine. Along with a 25 % mutual tariff, this total tariff for India has reached 50 %, which is the highest in any country regardless of Brazil.

In addressing the Strategic Partnership Forum of the United States of America, Joyal indicated that India may buy more crude oil from the United States.

However, the sources confirmed that the recent height of the fees on the H1B visa by the United States is not aimed at India alone. “This is a completely unrelated issue and targets the whole world, not only in India. But with 20 % of the world’s population, India is the most affected. The intention of high H1B visa fees was not targeting India,” the source explained. The United States is still open to high -level skilled workers.

However, the Indians represent more than 70 % of the H-1B visa recipients in the 24th year, and this step is viewed to affect the country’s information technology sector.