India and US: Paving the Path to a New Bilateral Trade Era
Senior Indian officials are visiting the US for trade talks amidst ongoing negotiations of a Bilateral Trade Agreement. With five rounds completed, both nations seek to finalize the agreement by fall 2025. The pact aims to double trade to USD 500 billion by 2030, strengthening India-US economic ties.
- Country:
- India
In a significant move to bolster economic ties, senior officials from India are set to visit the United States for critical trade discussions. These negotiations revolve around finalizing a proposed Bilateral Trade Agreement (BTA) aimed at enhancing trade relations between the two countries.
Since February, when leaders from both nations directed officials to negotiate the BTA, five rounds of discussions have been conducted. The plan is to conclude the first tranche of the pact by fall 2025. Recently, India's Commerce and Industry Minister, Piyush Goyal, led a delegation to New York for these strategic talks.
The agreement carries substantial economic implications, especially as it strives to more than double the India-US bilateral trade to USD 500 billion by 2030. The US continues to be India's largest trading partner, and this agreement is pivotal for strengthening this relationship amidst existing tariffs and trade penalties.
(With inputs from agencies.)
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