India and US Advance Towards Landmark Bilateral Trade Agreement

India and the US are progressing in bilateral trade talks, aiming to establish a comprehensive bilateral trade agreement that reduces tariff barriers and enhances market access. Both nations are working towards solidifying frameworks from recent high-level meetings, aiming for a mutually beneficial economic partnership.

In a significant development in international trade relations, the Ministry of External Affairs announced on Friday that India and the United States are making substantial progress in negotiating a bilateral trade agreement aimed at expanding trade and reducing both tariff and non-tariff barriers.

During a weekly media briefing, MEA spokesperson Randhir Jaiswal highlighted the concerted efforts of both governments to establish a robust framework for the Bilateral Trade Agreement (BTA), a multisectoral pact expected to benefit both nations. This announcement follows the 14th Ministerial-level India-US Trade Policy Forum, co-chaired by Commerce Minister Piyush Goyal and US Trade Representative Ambassador Katherine Tai.

The ongoing trade discussions, alongside recent high-level visits, including Minister Goyal's trip to the US, underscore the commitment to fostering a deeper economic relationship. With the BTA, both countries aim to build a more integrated supply chain, increase trade in goods and services, and enhance sectoral cooperation, taking their trade relationship to unprecedented levels.

(With inputs from agencies.)