US Advocates for Grand Trade Agreement with India: A Major Shift in Bilateral Ties

The US is urging for a comprehensive trade agreement with India, not limited to product-specific discussions. US Commerce Secretary highlights the need for India to open its agriculture market. Upcoming talks aim to double India-US trade to USD 500 billion by 2030, focusing on a holistic Bilateral Trade Agreement.

The United States is pressing for a comprehensive trade agreement with India, advocating for a broad-based approach rather than a narrow, product-specific framework. US Commerce Secretary Howard Lutnick emphasized the importance of India's agriculture market in the negotiations.

Speaking at the India Today Conclave, Lutnick stressed the urgencies of formulating a macro-level trade pact that fully integrates the economic interests of both nations. He called for a re-evaluation of India's tariff policies towards the US to facilitate more open trade.

Reinforcing this initiative, recent discussions between Indian Prime Minister Narendra Modi and US leaders underscored their commitment to boosting bilateral commerce. The ambitious target is to more than double trade between the two countries to USD 500 billion by 2030, paving the way for a groundbreaking Bilateral Trade Agreement by 2025.

(With inputs from agencies.)