Politics · India Bureau
India, US enter final stages of bilateral trade pact negotiations
India and the United States have moved past substantive discussions on their proposed bilateral trade agreement and are now focused on fine-tuning remaining details, Commerce and Industry Minister Piyush Goyal said Monday. Shifts in the US tariff environment have prompted additional rounds of negotiations since the framework was announced earlier this year.
LSN India ·
The bulk of negotiating work on the India-US bilateral trade agreement (BTA) has been completed, with both nations now working through final refinements to the accord, Goyal said during a visit to the Netherlands. The minister is leading a business delegation on the two-day trip.
"We have concluded most of the discussions and are fine-tuning the agreement," Goyal told attendees at the India-Netherlands Business Forum, underscoring New Delhi's commitment to advancing trade ties with Washington.
India and the US unveiled the framework for the first phase of their trade pact in February, marking significant progress after years of deliberations. However, recent changes to America's tariff policies have necessitated fresh discussions on certain provisions, officials indicated.
The trade agreement is part of New Delhi's broader push to expand commercial partnerships globally. Goyal highlighted that India has successfully concluded nine free trade agreements over the past four and a half years, positioning the country as an active participant in regional and international commerce. The bilateral trade accord with the US is expected to deepen economic integration between the world's largest and fifth-largest economies.