India and US Set Stage for Major Bilateral Trade Agreement

Indian and American trade delegations are initiating discussions for a Bilateral Trade Agreement, aiming at a virtual start before face-to-face dialogues in May. Both nations express optimism about the deal, looking to enhance their trade relations significantly by fall 2025.

The governments of India and the United States are poised to embark on crucial negotiations toward a Bilateral Trade Agreement, insiders report. Virtual discussions are slated for the initial phase, with an in-person dialogue scheduled in the latter half of May when the Indian delegation heads to Washington.

Addressing the media on April 10, India's Union Commerce and Industry Minister Piyush Goyal emphasized the strategic handling of the reciprocal tariff issue, aiming to amplify trade volumes with the U.S. The minister expressed confidence in the progress of the discussions while placing India in a favorable position.

February saw Prime Minister Narendra Modi and then-President Donald Trump affirming their commitment to bolstering bilateral relations through an anticipated trade agreement anticipated by fall. March witnessed preliminary talks in New Delhi, laying the groundwork for a comprehensive, multi-sector Bilateral Trade Agreement.

Senior officials from India's Department of Commerce and the U.S. Trade Representative engaged in a four-day dialogue ending March 26 to expedite trade to a target of USD 500 billion by 2030. These negotiations seek to balance growth, fairness, and job creation through a proposed first tranche of agreements by 2025.

Anticipated sectoral-level discussions are scheduled to commence virtually, steering towards physical negotiating rounds imminently. Both nations have voiced satisfaction with preliminary outcomes, reaffirming their dedication to securing a mutually advantageous trade agreement in the months ahead. (ANI)

(With inputs from agencies.)