India-US Bilateral Trade Talks: Striving for a $500 Billion Milestone

India and the US are engaged in ongoing discussions to finalize a bilateral trade agreement aimed at doubling trade to $500 billion by 2030. The talks, led by Commerce Minister Piyush Goyal, address sensitive and serious issues, following strained relations due to US tariffs on Indian goods.

India and the United States are actively negotiating a pivotal trade agreement, as confirmed by India's Commerce and Industry Minister, Piyush Goyal. The minister stated that while discussions are progressing positively, addressing sensitive issues necessitates time.

Goyal's visit to the US, leading a business delegation, marks a significant step in the ongoing negotiations. To date, five rounds of discussions have been completed, with a team led by Commerce Secretary Rajesh Agrawal engaging with their US counterparts in Washington as recently as October 17.

Initiated in February, the bilateral trade agreement aims to more than double the trade value between the two nations to $500 billion by 2030. The focus is to address the tensions following the US's imposition of tariffs, which have impacted trade dynamics. The US has consistently been India's top trading partner, maintaining substantial trade figures in the past consecutive years.

(With inputs from agencies.)