India and US Close to Sealing Interim Trade Deal
India is moving towards finalizing an interim trade agreement with the US, focusing on less contentious issues. Commerce Minister Piyush Goyal highlights the importance of addressing these 'low-hanging fruits' first. The US and Indian trade teams are meeting in New Delhi, aiming for a $500 billion trade goal by 2030.
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The Indian government is racing against time to secure an interim trade agreement with the United States. Commerce Minister Piyush Goyal underscored the importance of addressing 'low-hanging fruits'—less controversial issues—first for immediate benefits.
US and Indian trade representatives are currently in New Delhi, wrapping up a week-long negotiation aimed at finalizing key components of the proposed bilateral trade agreement. These talks are a part of long-term plans to elevate bilateral trade from the existing $191 billion to $500 billion by 2030.
This move follows recent discussions between President Donald Trump and Prime Minister Narendra Modi to establish a multi-sector Bilateral Trade Agreement by fall 2025. The bilateral trade with the US, India's largest trading partner, accounted for $131.84 billion in 2024-25.
(With inputs from agencies.)
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