New Delhi– India and the United States are on track to sign the first phase of a long-anticipated Bilateral Trade Agreement (BTA) ahead of the fall 2025 deadline, with the terms of reference already finalized.
“The terms of reference for the India-U.S. Bilateral Trade Agreement were finalized during the recent visit of the U.S. delegation,” said Rajesh Agarwal, Additional Secretary in the Commerce Ministry, on Tuesday. “Virtual negotiations on the individual chapters will begin this week, and in-person talks may start by the end of the month.”
Commerce Secretary Sunil Barthwal confirmed that India has committed to a path of trade liberalization with the United States, emphasizing that both countries stand to benefit if the initial phase of the agreement is completed ahead of schedule.
“Our aim is to conclude the first tranche of the BTA by fall, but if we can do it sooner, that would be even better for both nations,” Barthwal told reporters.
A reduction in tariffs is expected to significantly boost bilateral trade. While a 90-day pause on steeper duties announced by U.S. President Donald Trump on April 9 is not country-specific, it provides a strategic window for India and other nations to finalize trade arrangements.
Last week, Commerce Minister Piyush Goyal said negotiations with the U.S. were progressing positively.
“India makes a strong case for a bilateral trade deal with the U.S., especially considering our growth trajectory and demographic advantage,” Goyal said. “With a large, young, and aspirational population fueling demand for goods and services over the next 25 to 30 years, we believe India offers a compelling opportunity.”
Prime Minister Narendra Modi and President Trump have set an ambitious target of reaching $500 billion in bilateral trade by 2030, as outlined in a joint statement during Modi’s visit to Washington. (Source: IANS)
