Ex-Foreign Sec Shringla Pins Hopes On "Mutually Beneficial" FTA With US Amid 50% Levy - Here's Why

Ex-Foreign Secretary and Rajya Sabha MP Harsh Vardhan Shringla continues to pin hope on a "satisfactory mutually beneficial" FTA with the US after the latter imposed a fresh tranche of tariffs on Wednesday, August 27, 2025, taking the total levy to 50 per cent. 

"We have the most comprehensive, multi-faceted relationship with the United States, the one that we have more than any other country...The strength of that relationship are the values and principles that we share, which will see us through any ups and downs in the relationship," said Shringla.

Further, the former foreign sectretary voiced how President Trump and PM Modi share a special partnership that's been "evident in many of the meetings that I have been present in myself". He was reffering to events such as Namaste Trump, and Howdy Modi.

Meanwhile, suggesting a way to reduce the US imposed levy, expected to impact over 40 billion worth Indian goods imported to United States, Shringla  said,"We have Free Trade Agreements with Australia, the UAE, and the UK, we are close to concluding a Free Trade Agreement with the European Union. This means that we can access different markets and we would have the opportunity to divert some of our exports in that direction."

On the other hand, he also said, "Hopefully, we will find a way to conclude a satisfactory mutually beneficial Free Trade Agreement with the United States early rather than late, and that would certainly take us to the next step of the visit of President Trump to India," he said.

Also Read: Trump's 50% Tariffs Kick In: India Aims $1 Billion GE Deal To Fuel Tejas

He also acknowledged that the appointment of Sergio Gor as the next US Ambassador to India saying it is a "very positive step".

Coming to collaborative efforts, he said India is constantly developing its capacity in the field of semiconductor, rare earth minerals jointly with other countries.

"We are developing our own capacities in collaboration with countries like the US. We are also developing a very strong semiconductor capacity. We are also undertaking a rare earth mission...We envision ourselves growing over the next 20 years...We have to prepare for the next stage, and critical and emerging technologies are a very important part of that," he added.

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