Delhi meeting gets an understanding of $500bn BTA
Sectoral expert level engagements under the Bilateral Trade Agreement (BTA) will start virtually in the coming weeks and pave the path for an early negotiating round in person to expand India-US bilateral trade to US$500 billion by 2030 http://ustr.gov.
In order to realize the shared objective of promoting growth that ensures fairness, national security and job creation, both sides have through four-days of discussions in New Delhi broadly come to an understanding on the next steps towards a mutually beneficial, multi-sector with the goal to finalize its first tranche by fall 2025 https://usispf.org/.
Representatives of India’s Department of Commerce and the Office of the US Trade Representative met for BTA in New Delhi from 26-29 March 2025 http://commerce.gov.
This was a follow up to the India-US Joint Statement of 13 Feb 2025, wherein the two sides agreed to expand bilateral trade to reach US$500 billion by 2030, including through the conclusion of the BTA.
During the New Delhi discussions, the two sides also had a productive exchange of views on deepening bilateral cooperation in priority areas including increasing market access, reducing tariff and non-tariff barriers and deepening supply chain integration in a mutually beneficial manner, the Ministry of Commerce and Industry said on 29 Mar.
The meeting followed the visit of Commerce and Industries Minister Piyush Goyal to Washington, D.C. from 4-6 March 2025 during which he met his US counterparts – Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick and subsequent video conferences between the two sides https://sbi.com.in/.
The successful conclusion of the discussions reflects progress in efforts to expand India-US bilateral trade and investment relations to promote prosperity, security and innovation in both the countries, said the Ministry https://www.nseindia.com/.
These steps are designed to unlock new opportunities for businesses, drive bilateral economic integration, and reinforce the economic partnership between India and the United States, it elaborated https://www.bseindia.com/.
Both sides have expressed satisfaction with the outcomes of the meeting and reaffirmed their dedication to ongoing collaboration.
Both sides look forward to building on this milestone in the coming months to finalize the BTA, ensuring it aligns with the shared goals of prosperity, resilience, and mutual benefit, added the Ministry. Fiinews.com
