India and US Edge Closer to Landmark Trade Deal Amid Negotiations

India and the US are nearing the completion of a bilateral trade deal, with ongoing discussions in Berlin and Washington. Despite previous tensions over tariffs, both nations are focusing on a fair agreement. The proposed deal aims to double bilateral trade to USD 500 billion by 2030.

India and the United States are approaching a critical juncture in finalizing a bilateral trade agreement, as confirmed by an official statement on Friday. Commerce and Industry Minister Piyush Goyal noted that New Delhi is committed to not rushing any deals.

During the Berlin Global Dialogue, Goyal highlighted that India is in active discussions for trade pacts with both the EU and the US. He emphasized the importance of not being pressured by deadlines or external forces. Talks involving Indian Commerce Secretary Rajesh Agrawal culminated in Washington last week, indicating significant progress.

The negotiations have been fraught due to previous US tariffs on Indian goods, seen by India as unjust. Both countries aim for a resolution, with hopes to more than double bilateral trade to USD 500 billion by 2030. With the US already India's largest trading partner, achieving this deal could redefine economic ties between these two nations.

(With inputs from agencies.)