India-US Trade Negotiations Set to Start in Washington
Click to start listening
Synopsis
A negotiating team led by Rajesh Agarwal will travel to Washington next week to discuss the India-US Bilateral Trade Agreement, focusing on various trade issues and aiming to finalize an early harvest agreement by fall 2025.
Key Takeaways
- Delegation led by Rajesh Agarwal to Washington.
- Negotiations on the India-US BTA cover 19 chapters.
- Focus on tariffs, trade in goods, and regulatory cooperation.
- Goal to double bilateral trade to $500 billion by 2030.
- First phase of BTA targeted by fall 2025.
New Delhi, April 19 (NationPress) A delegation of negotiators, headed by Commerce Secretary-designate Rajesh Agarwal, is expected to head to Washington, DC, next week to further discussions on the proposed India-US Bilateral Trade Agreement (BTA).
The discussions are scheduled to span three days starting from April 23, according to reports.
Officials have confirmed that the agenda for the negotiations has been established and will encompass a broad spectrum of topics across 19 chapters.
Critical areas of focus include tariffs, non-tariff barriers, rules of origin, trade in goods and services, customs facilitation, and regulatory cooperation.
This round of negotiations is being closely monitored, as both New Delhi and Washington are aiming to finalize an early harvest agreement ahead of the fall deadline.
India and the US have set a target to complete the first phase of the BTA by the fall (September-October) of this year, intending to more than double bilateral trade to $500 billion by 2030, up from approximately $191 billion currently.
Both countries are striving to sign the initial tranche of the BTA to reduce tariffs before the agreed deadline of fall 2025, as the terms of reference for the agreement have already been established.
Rajesh Agarwal, Additional Secretary of Commerce, stated this week, "The terms of reference for the India-US Bilateral Trade Agreement have been finalized during the US team's visit. Negotiations for the first tranche will commence virtually this week, with in-person talks expected to begin at the end of the month."
Commerce Secretary Sunil Barthwal informed reporters, "India has opted for a route of trade liberalization with the US." He noted that both nations would gain if the trade deal is concluded before the fall of 2025.
He added, "When we indicated our goal to achieve the first tranche of the BTA with the US by fall, it doesn't imply that we can't accomplish it before that time. If we finalize the BTA ahead of fall, it would be advantageous for both India and the US."
Union Finance Minister Nirmala Sitharaman is also set to begin an official trip to the US and Peru on April 20, where she will take part in multilateral discussions to highlight India’s economic vibrancy.
