India-US Bilateral Trade Agreement Set to Double Trade by 2030

India and the US are negotiating a bilateral trade agreement aimed at doubling mutual trade to USD 500 billion by 2030. Talks involving tariffs, customs, and non-tariff barriers are underway to enhance economic growth and technology ties. Indian officials are meeting their US counterparts to advance the discussions.

The bilateral trade agreement (BTA) under negotiation between India and the United States is expected to significantly enhance trade and economic relationships between the two nations, a senior official from India's commerce ministry stated on Tuesday.

The official highlighted that India and the US, while already strategic partners, have even greater potential for economic cooperation that remains untapped. The target is to more than double their trade to USD 500 billion by 2030.

A senior Indian delegation led by Rajesh Agrawal, Additional Secretary in the Department of Commerce, is set to hold three days of crucial talks in Washington starting April 23, focusing on tariff issues and other trade barriers. Meanwhile, India's Commerce Secretary Sunil Barthwal is visiting Croatia to further bolster international trade relationships.

(With inputs from agencies.)