India Explores Bilateral Trade Advances with the US Amid Major UK Trade Deal
India is actively engaging with the US on a Bilateral Trade Agreement while celebrating a landmark Free Trade Agreement with the UK. The agreements aim to bolster economic collaboration, granting substantial benefits to Indian exporters and improving market access in various sectors, enhancing India’s global trade footprint.
- Country:
- United Kingdom
India is making significant strides in advancing its trade relationships, with Foreign Secretary Vikram Misri disclosing continued discussions with the US on a potential Bilateral Trade Agreement (BTA). Misri affirmed ongoing contact between nations, spotlighting India's efforts to deepen economic ties with the US.
In a related development, India and the UK solidified their trade partnership by signing a Comprehensive Economic and Trade Agreement (CETA). The deal, underscored by Prime Ministers Narendra Modi and Keir Starmer, represents a commitment to double bilateral trade to USD 56 billion by 2030 and enhance economic integration.
Notably, India's CETA with the UK secures duty-free access for 99% of its exports, opening opportunities in textiles, marine products, and technology sectors. The agreement also seeks to empower diverse industries and individual entrepreneurs, fostering growth, innovation, and sustainable practices.
(With inputs from agencies.)
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