India's Strategic Trade, Tariff, and Tech Negotiations
India faces crucial deadlines regarding the three T's: trade, tariffs, and technology, amid the current international climate.
Trade Agreement with the US
- A Bilateral Trade Agreement (BTA) with the US is expected by autumn.
- Key objectives include balancing trade concessions on dairy products for Indian tech talent mobility.
- India aims for a fair trade deal, leveraging its current first-mover advantage.
- Indian negotiators are actively pursuing deals, unlike the traditionally slow approach.
Tariffs Deadline
- The temporary pause on 26% tariffs against India ends on July 9.
- The US seeks concessions on industrial goods, apples, and dairy, while India focuses on labor-intensive sectors like textiles and gems.
Technology and Data Localisation
- A roadmap for accelerating US-origin AI infrastructure in India must be completed by year's end.
- Data localization and control over Indian data are key concerns.
- India's approach to AI favors bottom-up, solutions-based policies that emphasize inclusion.
- India seeks to avoid technology dependency and prefers partnerships with Western markets.
India's Global Positioning
- India aligns more with Western partners, seeing greater prospects with US, EU, and Britain.
- There is a clear focus on integrating with developed countries for fair trade relations.
- India's tech policy is designed to benefit the global south, focusing on affordable and applicable AI solutions.
India's ongoing efforts in these three areas aim to position it advantageously in global trade and technology, ensuring growth and inclusion.