India and US Propel Towards Ambitious Trade Milestone with New Bilateral Agreement

India and the US are engaging in high-level talks to expand bilateral trade, setting a target of USD 500 billion by 2030. Recent meetings in New Delhi have laid foundations for a Bilateral Trade Agreement (BTA), focusing on market access and strengthening economic ties in a multi-sectoral approach.

The Indian Department of Commerce and the US Trade Representative convened in New Delhi for a pivotal four-day dialogue, aiming to bolster bilateral trade to USD 500 billion by 2030. The discussions, concluded on a positive note, have set the stage for a comprehensive Bilateral Trade Agreement (BTA), anticipated to begin its first phase by autumn 2025.

This development follows earlier high-profile meetings between Union Commerce Minister Piyush Goyal and his US counterparts in Washington DC earlier this month. The ongoing negotiations underscore a mutual commitment to enhance market access and integrate supply chains while reducing trade barriers. Upcoming sectoral engagements are expected to further propel these efforts.

The two nations have expressed satisfaction with the progress made so far, emphasizing their dedication to furthering this economic partnership. Both leaders, Prime Minister Narendra Modi and US President Donald Trump, are resolute in their ambition to strengthen trade ties, promoting prosperity, security, and innovation across both nations.

(With inputs from agencies.)