India is poised to push for better deals from the U.S. and UK in separate trade negotiations with the two countries this week, according to a Bloomberg report on Tuesday.
India is hosting a U.S. trade delegation led by chief negotiator Brendan Lynch and will have a separate meeting with UK Business and Trade Secretary Peter Kyle.
As per the news report, India has warned that it may withdraw some concessions offered to the UK under the free trade agreement signed last year unless its steel exports are exempted from safeguard duties that will be imposed from next month.
Also, Indian negotiators are pushing for exemptions from any tariffs that may arise from ongoing US trade investigations.
Successful trade negotiations with the U.S. and UK could help to ease the pressure on the Indian economy and the falling rupee by attracting more foreign investment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)