US-India Trade Deal: A Landmark Agreement on the Horizon

A major American business group advocates for a significant trade agreement between India and the US, as talks commence between officials. The deal is expected to boost GDP and enhance market access. Leaders seek to double trade volumes to USD 500 billion by 2030 through strategic dialogue and investment.

The US Chamber of Commerce's US-India Business Council is calling for a comprehensive trade agreement between India and the United States, emphasizing that such facilitation is overdue. Discussions began this week between Indian Commerce Minister Piyush Goyal and US representative Howard Lutnick in pursuing this goal.

Ambassador Atul Keshap, USIBC President, urged both nations to exploit the trade relationship for mutual growth. He emphasized the need for a level playing field, full market access, and a decrease in regulatory red tape. Such an agreement, he argued, could strongly bind the US and Indian economies.

Keshap also pointed out the current low trade volumes and the potential for a significant increase. He expressed enthusiasm about the ongoing efforts and credited USIBC member companies with supporting a strategic partnership. This dialogue follows Prime Minister Narendra Modi's recent talks with President Donald Trump, where they set a target to reach USD 500 billion in bilateral trade by 2030.

(With inputs from agencies.)