India and the US intend to implement an interim trade agreement in April. This was announced by Indian Commerce and Industry Minister Piyush Goyal, The Economic Times reports.
Goyal also announced that India's free trade agreements with the UK and Oman are likely to be implemented in April, while the agreement with New Zealand is expected to come into force in September.
As previously reported, a three-day meeting of Indian and US representatives to finalize the legal text of the interim trade agreement will begin in the US on February 23.
Earlier this month, India and the US issued a joint statement announcing the completion of the first phase of the trade agreement. The provisions contained in it must now be translated into a legal document to be signed by both sides.
The United States announced a reduction in reciprocal tariffs on Indian goods from 25% to 18%. Washington also announced the elimination of 25% tariffs imposed due to the purchase of Russian oil by India.