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INDIA-US TRADE PACT IN THE WORKS TO CUT TARIFFS
The Daily Guardian
|March 08, 2025
Talks on Bilateral Trade Agreement are in advanced stage
India and the US are gearing up to negotiate a landmark Bilateral Trade Agreement (BTA) that could potentially boost trade between the two nations amid US President Donald Trump's plans to impose reciprocal tariffs on US trading partners, including India.
In a weekly briefing, MEA spokesperson Randhir Jaiswal said the agreement aims to strengthen and deepen India-US two-way trade in goods and services, increase market access, and reduce tariff and non-tariff barriers.
"The two governments are in the process of advancing discussions on a multi-sector Bilateral Trade Agreement. Through the BTA, our objective is to strengthen and deepen India-US two-way trade in the goods and services sector, increase market access, reduce tariff and non-tariff barriers, and deepen supply chain integration between the two countries," said Jaiswal.
The announcement comes after Prime Minister Narendra Modi's visit to the US in February 2025, where both sides expressed interest in negotiating a mutually beneficial, multi-sector BTA.
The US on Friday pitched for a macro, large and grand trade agreement with India, and not 'product-by-product' arrangement to boost bilateral ties between the two countries.
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