India-US Trade Talks in Delhi Aim to Strengthen Bilateral Relations

India and the United States will hold trade negotiations in New Delhi starting December 10, aiming to advance the Bilateral Trade Agreement (BTA). Despite global trade shifts, there is optimism to sign the first tranche this year. Recent tariffs by the US add complexity to the discussions.

India and the United States are set to engage in crucial trade discussions in New Delhi beginning December 10, as both nations seek to progress negotiations on the Bilateral Trade Agreement (BTA). According to government sources, there is an optimistic outlook for signing the initial tranche before the year's end.

Commerce Secretary Rajesh Agarwal, India's lead negotiator for the deal, emphasized substantial progress in the talks despite recent global trade shifts. Speaking at the FICCI Annual General Meeting, Agarwal highlighted the positive trajectory of the discussions, initially targeted for completion by 2025, although recent US tariff changes add complexity.

President Donald Trump introduced a series of 25% tariffs on Indian goods, citing India's oil imports from Russia. This adds a layer of urgency to the discussions, aiming to double bilateral trade from the current USD 191 billion to USD 500 billion by 2030. Meanwhile, India, which already has numerous Free and Preferential Trade Agreements, continues negotiations globally, asserting its strategic autonomy.

(With inputs from agencies.)