India Poised to Seal Trade Pact with US Following EU Deal Triumph

Following the successful negotiation of the 'mother of all deals' with the EU, India is on the brink of finalizing a trade agreement with the US. Significant progress has been made, with potential finalization imminent. This new deal aims to substantially increase bilateral trade and strengthen economic ties.

After India's triumph in securing a landmark Free Trade Agreement (FTA) with the European Union, the nation is now inching closer to a crucial trade pact with the United States. According to sources from the Ministry of External Affairs, substantial progress has been made, with the agreement reportedly nearing completion.

During the World Economic Forum in Davos, US President Donald Trump expressed optimism about the bilateral trade deal, lauding Indian Prime Minister Narendra Modi as a trusted friend. Commerce Secretary Rajesh Agrawal echoed these sentiments, suggesting the first phase of the pact is imminent.

The India-US Bilateral Trade Agreement seeks to magnify current trade volumes twofold by 2030. Meanwhile, US Trade Representative Jamieson Greer praised India's EU deal, highlighting expanded market access and potential mobility provisions for Indian workers.

(With inputs from agencies.)