US trade talks to stick to terms agreed earlier

India and the United States are intensely engaged to conclude a mutually beneficial early trade deal by the end of this month, “strictly” within the bilaterally agreed framework of March 29, irrespective of the ongoing political rhetoric and independent of their strategic relationships with other countries, people in the know said on Sunday.

- Rajeev Jayaswal

It may be part of the negotiations that India and the US may purchase and sell more energy as an outcome of the deal. But the agreed framework does not proscribe either nation from purchasing oil and gas from any third country of its choice, they said, requesting anonymity.

The two countries finalised the detailed terms of reference (ToR) to enter into negotiations of the bilateral trade agreement U.S. TRADE TALKS (BTA) on March 29 during their first physical round of talks in New Delhi.

Later, on April 22, US Vice President JD Vance officially announced the finalisation of the ToR for bilateral "trade negotiations" during his India visit, and called it "a vital step toward a final deal" between the two nations in a post on X that day.

TOR is a set of bilaterally agreed road map for BTA negotiations. Both sides have concluded five physical rounds of negotiations and several virtual discussions within that framework. In the process, the two sides have already reached some common ground, substantial enough to announce an interim deal, they said.