While Indian officials say discussions are “advancing”, Trump on Friday said New Delhi had agreed to cut its tariffs “way down”. US commerce secretary Howard Lutnick said India needed to buy more defence products and lower its tariffs for the two countries to sign a “grand” bilateral deal.

As global uncertainties loom over the economy, there is a silver lining for India. In a recent report titled India in the New World, HSBC India's Chief Economist, Pranjul Bhandari, highlighted how potential U.

Sign up here.US President Donald Trump’s threats to hike tariffs isn’t all bad news for India’s economy since it’s driving the government to lower trade barriers, which will spur competition and growth.