India and US Set Sights on New Trade Milestones

India and the US aim to negotiate a comprehensive trade agreement focusing on increasing market access, reducing taxes and barriers, and enhancing supply chain links. As of now, no reciprocal tariffs have been imposed by the US on India. Both nations strive to broaden bilateral trade ties beneficially.

India and the United States are moving towards a new trade pact to boost market access and streamline tariffs.

Commerce Minister Jitin Prasada informed the Parliament that currently, reciprocal tariffs aren't a concern. They aim for a broad-based Bilateral Trade Agreement (BTA).

By 2025, the nations expect this multi-sector agreement to drive trade up to USD 500 billion.

(With inputs from agencies.)