India-US Trade Talks Progress for Landmark Agreement

The ongoing trade negotiations between India and the US are progressing positively. Both countries aim for a trade agreement benefiting their economies while addressing tariff concerns. India's Commerce Minister, Piyush Goyal, reassures that India's interests are safeguarded, and a significant growth in trade volume is expected by 2030.

Negotiations between India and the US for a landmark trade agreement are advancing positively, with both nations looking to safeguard their interests, according to India's Commerce Minister, Piyush Goyal. As talks continue, the expectation is to double bilateral trade beyond USD 500 billion by 2030.

Minister Goyal emphasized regular discussions with stakeholders across sectors such as agriculture, textiles, and electronics, highlighting widespread excitement over potential economic benefits. He reassured that, while trade turbulence might occur, India's robust economic trajectory remains intact under Prime Minister Narendra Modi's leadership.

The negotiations come amidst US plans to impose reciprocal tariffs on India in April. Nevertheless, both countries are committed to finalizing the initial phase of the trade agreement by 2025, which is expected to open markets and reduce tariffs on various goods.

(With inputs from agencies.)