US sales of goods and services in India will become easier as both nations are renegotiating a trade deal, focusing on facilitating digital trade. Both parties agreed not to request information about source code, proprietary knowledge, specific technologies, production processes, etc., as a precondition of running a business in India.
Through this agreement, numerous sectors are anticipated to benefit, including telecom, electronics, and medical devices. Earlier, US companies faced difficulty because of India’s mandatory testing protocols, which were seen as non-tariff barriers. This move aims to create a non-discriminatory environment for digital products and services.
Previously, the meeting was held in New Delhi, joined by Brendan Lynch, led by the Chief Negotiator for the India-U.S. Bilateral Trade Agreement (BTA) negotiations as United States Trade Representative, with Rajesh Agrawal, the Chief Negotiator on the Indian side, and his team.
Also read: India & the UAE Sign a Historic Bilateral Trade Deal
The meeting lasted about seven hours, and it was later continued virtually, with the parties agreeing not to demand information.
