India-US Trade Talks: Progress Towards a $500 Billion Target by 2030

India and the US are actively negotiating a Bilateral Trade Agreement aimed at doubling their trade to $500 billion by 2030. With discussions underway on market access and tariff concessions, both countries are working towards an interim deal by 2025, as challenges like US tariffs on Indian exports are addressed.

The India-US Bilateral Trade Agreement (BTA) negotiations are making steady progress as both nations aim to bolster their economic relationship. According to Commerce Secretary Sunil Barthwal, talks are taking place across various levels and sectors, with the ultimate goal of fostering a mutually advantageous partnership.

While the negotiations cover crucial areas such as market access and tariff concessions, uncertainties remain over the timing of the next negotiation round. The recent talks have been constructive, with both parties eager to finalize an interim deal, leading to a doubling of trade to $500 billion by 2030.

As efforts continue, India's strategy involves addressing US tariffs impacting Indian exports and diversifying export markets. Imposed US tariffs, which are now 50%, have prompted Indian officials to engage stakeholders in order to mitigate adverse effects and seek new market opportunities.

(With inputs from agencies.)