India & US looking for 'early mutual wins' before concluding first phase of trade pact

INDIA and the US are exploring opportunities for an interim trade arrangement in goods to secure an "early mutual wins" ahead of finalising the first phase of the proposed bilateral trade agreement by fall of this year.

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The commerce ministry said on Tuesday that both the countries have initiated sectoral level talks and more engagements are planned from May end.

To give an impetus to the talks, India's chief negotiator Rajesh Agrawal, additional secretary in the department of commerce, and Assistant US Trade Representative for South and Central Asia Brendan Lynch held a three-day talks last week in Washington.

During the meetings in Washington, the teams deliberated on wide-ranging subjects including tariff (related to goods) and non-tariff matters.

"The team discussed the pathway for concluding the first tranche of the mutually beneficial, multi-sector bilateral trade agreement (BTA) by fall (September-October) of 2025, including...opportunities for early mutual wins," the ministry said in a statement.

An official said that an interim agreement with regard to trade in goods could take place as part of early mutual wins in case both sides agree.