NEW YORK: American President Donald Trump on Tuesday said that soon US will have a trade deal with India, signalling a thaw in business and economic relations with New Delhi months after raising import duties on some products apart from the hostility at the World Trade organisation.

“We are doing very well ... I think very soon we will have a trade deal," Trump told reporters. He met Prime Minister Modi on the sidelines of the UN General Assembly.

While the details were not disclosed, India has signalled that it is willing to work with the Trump administration to lower import duties on IT and telecom equipment in a way that it helps American companies. Similarly, on several farm goods too US concerns related to entry restrictions into India and tariffs are being addressed, said officials.

Policies related to two key areas — e-commerce and data privacy — are on the backburner, while carve-outs are being provided for in the price control regulations for high-end patented heart stents and knee implants.

In return, India wants the US to reintroduce lower duty benefits under the generalised system of preferences (GSP) scheme, which was withdrawn recently.

The talks received a boost after Modi’s meeting with Trump in Osaka on the sidelines of G-20, resulting in detailed discussions between commerce and industry minister Piyush Goyal and US Trade Representative Robert Lighthizer.



In Video: PM Modi, US President Trump meet on sidelines of UNGA