Indo-US Trade Talks: Progress Towards Bilateral Agreement

Commerce and Industry Minister Piyush Goyal announces that talks with the US on a proposed bilateral trade agreement are making progress. A US delegation, led by Deputy USTR Rick Switzer, is in New Delhi to negotiate. The talks aim to address trade tariffs and significantly boost bilateral trade.

Commerce and Industry Minister Piyush Goyal confirmed ongoing progress in bilateral trade talks between India and the US during the Pravasi Rajasthani Divas. A US delegation, led by Deputy US Trade Representative Rick Switzer, has arrived in New Delhi for the negotiations, signaling a critical step in the agreement process.

This marks the US's second visit to India amid a backdrop of existing high tariffs, with Assistant USTR Brendan Lynch to engage closely with India's Joint Secretary Darpan Jain. Significant strides are being made to finalize the first tranche of the pact, aimed at addressing tariff challenges faced by Indian exporters.

With a targeted goal of doubling bilateral trade to USD 500 billion by 2030, both countries are committed to resolving reciprocal tariff issues. As exporters express concerns over declining merchandise exports due to hefty tariffs, the significance of the agreement continues to grow for boosting the economic partnership.

(With inputs from agencies.)