NEW DELHI: A trade deal between India and the US would likely take some time but will materialise by the fall 2025, according to a Morgan Stanley report released on Tuesday.
While India is exposed to direct tariff risks, the global brokerage believes that on balance, the country is less exposed to global goods trade slowdown considering that it has the lowest goods exports to GDP ratio in Asia.
Some exceptions are allowed. For example, countries can set up a free trade agreement that applies only to goods traded within the group — discriminating against goods from outside.