The US and India have started talks on a bilateral trade deal under the “Fair and Reciprocal Plan” to correct trade imbalances.

A US Embassy spokesperson stated that no sector is off the table, though reports indicate the US seeks zero duties on most products except agriculture.

According to Reuters, the US has also pushed for zero tariffs on Tesla cars exported to India.

Commerce Secretary Howard Lutnick urged India to focus on a reciprocal trade relationship with the US.

Former Foreign Secretary Kanwal Sibal cautioned that a broad deal could benefit China and suggested a product-based approach.

Mission 500 aims to double bilateral trade to $500 billion by 2030, with the first phase expected by fall 2025.

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