New Delhi, Sept. 18 -- India's Chief Economic Advisor, V. Anantha Nageswaran, expressed optimism that the ongoing tariff stalemate between India and the US will be resolved within 8-10 weeks, with government-level discussions underway to reduce reciprocal tariffs.

He indicated a potential reduction of tariffs from 25% to approximately 15%. This follows the US imposition of an additional 25% tariff on Indian goods, bringing the total to 50%, linked to India's purchase of Russian oil. Concurrently, both nations have agreed to accelerate efforts to finalize a mutually beneficial trade agreement, with recent meetings between officials from both countries aimed at advancing trade discussions.

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