India-US Trade Talks: Boosting Bilateral Ties with Potential Pact

India and the US have finalized terms for a bilateral trade agreement covering 19 chapters. Officials are visiting Washington to resolve outstanding issues before starting formal negotiations. The pact aims to double trade to USD 500 billion by 2030, targeting duty concessions in various sectors.

India and the United States have finalized the terms of reference for a forthcoming bilateral trade agreement, encompassing 19 chapters on goods, services, and customs facilitation, according to official sources.

An Indian delegation will visit Washington next week to address remaining challenges before launching formal negotiations for the proposed agreement. India's chief negotiator, Rajesh Agrawal, Additional Secretary in the Department of Commerce, will lead the discussions.

Both countries are eager to capitalize on a 90-day tariff pause announced by former President Trump and aim to conclude the first phase of the agreement by the fall. The pact's goals include doubling bilateral trade to USD 500 billion by 2030 and reducing customs duties across various sectors.

(With inputs from agencies.)