India-US Bilateral Trade Talks Gain Momentum: Key Developments
Negotiations on the India-US bilateral trade agreement are progressing with Indian officials set to meet in Washington. Led by Piyush Goyal, the talks aim for an interim agreement in goods by fall. Key issues include market access and tariffs. India's move to zero tariffs on U.S. goods is a key negotiating point.
- Country:
- India
Negotiations for a bilateral trade agreement between India and the United States are advancing significantly, with Indian officials due to engage in discussions in Washington. Commerce and Industry Minister Piyush Goyal will spearhead the Indian delegation, beginning May 17.
An interim trade arrangement in goods is under discussion to achieve early mutual benefits before finalizing the agreement's first phase by September-October. Key negotiation points include market access, rules of origin, and non-tariff barriers.
US President Trump announced that India has agreed to eliminate tariffs on several American goods, signifying a major shift in their trade stance. Both nations are exploring ways to double bilateral trade to USD 500 billion by 2030, with ongoing sectoral-level talks complementing these efforts.
(With inputs from agencies.)
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