US trade pact close, comprehensive deal to sidestep patents

As India and the US inch closer to the timeline to finalize a trade deal, both sides are moving towards signing a comprehensive Bilateral Trade Agreement (BTA) that will cover nearly every aspect of commerce, from tariff reduction and easing of non-tariff barriers to expanded access in services and energy cooperation.

- Dhirendra Kumar & Rituraj Baruah

The joint statement issued by Prime Minister Narendra Modi and US President Donald Trump on 13 February had set the goal of concluding the talks by the fall of 2025. The leaders had resolved to deepen the US-India trade relationship to promote growth that ensures fairness, national security and job creation. To this end, the leaders set a bold new goal for bilateral trade— 'Mission 500'—aiming to more than double total bilateral trade to $500 billion by 2030.

The proposed trade agreement, for which discussions are underway, saw both sides initiate talks after over a month-long deadlock, with the US delegation visiting New Delhi on 16 September, followed by the Indian team, led by Union minister Piyush Goyal, visiting Washington and holding talks from 22 to 24 September.