NEW DELHI: Indian and American trade delegations are set to begin discussions on a Bilateral Trade Agreement this week, according to sources.
As per the sources, the initial talks will take place virtually, followed by an in-person meeting in the latter half of May when the Indian trade team will travel to the United States.
Earlier, on April 10, Union Commerce and Industry Minister Piyush Goyal on Thursday said that India is handling the US reciprocal tariff issue wisely, with a focus to increase its trade with the US by two and a half times.
Speaking to reporters in Mumbai, the Union Minister assured that India is already ahead in this race and that discussions were making good progress.
In February, Prime Minister Narendra Modi and President Donald Trump had decided to strengthen bilateral relations and both countries are negotiating a bilateral trade deal, expected to be finalised by the fall of this year.
In March this year, India and the United States held trade talks in New Delhi as part of efforts to negotiate the first tranche of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA).
Representatives of India’s Department of Commerce and the Office of the U.S. Trade Representative held a meeting in the national capital for four days beginning March 26 as a follow-up to the two countries agreeing to expand bilateral trade to reach USD 500 billion by 2030, including through the conclusion of a Bilateral Trade Agreement (BTA).
A Commerce and Industry Ministry said that in order to realise the shared objective of promoting growth that ensures fairness, national security and job creation, both sides have, through four days of discussions in New Delhi, broadly come to an understanding on the next steps towards a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA), with the goal to finalise its first tranche by fall 2025.
Sectoral expert-level engagements under the BTA will start virtually in the coming weeks and pave the path for an early negotiating round in person, the ministry had said.
India and the United States have expressed satisfaction with the outcomes of the meeting and reaffirmed their dedication to ongoing collaboration. Both sides look forward to building on this milestone in the coming months to finalise the BTA, ensuring it aligns with the shared goals of prosperity, resilience, and mutual benefit. (ANI)
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