In a bid to increase bilateral trade to $500 billion by 2030, India and the United States reached a general consensus in New Delhi on Saturday after concluding their talks, agreeing to complete the first phase of the Bilateral Trade Agreement (BTA) by fall 2025.
The talks, held from March 26-29, were a direct follow-up to the India-US joint statement issued on February 13 following Prime Minister Narendra Modi’s successful meeting with US President Donald Trump. Representatives from India’s Department of Commerce and the US Trade Representative’s Office engaged in deliberations to advance the trade partnership.
In a statement, India's Ministry of Commerce and Industry said that the talks were designed to promote economic growth, fairness, national security, and employment. Both sides have largely concurred on the way forward for negotiating a comprehensive, multi-sector trade agreement, with an initial tranche to be completed by fall 2025.
"Sector-specific specialist discussions under the BTA will begin virtually over the next few weeks, setting the stage for an in-person negotiating round at an early stage," the ministry said. Through the negotiations, both countries also discussed deepening cooperation in strategic areas like the promotion of increased market access, tariff and non-tariff barrier reduction, and deeper supply chain integration.".
The successful culmination of these negotiations is a milestone in the enhancement of India-US trade and investment ties, promoting prosperity, security, and innovation in both nations. These endeavors are likely to open up new business opportunities, deepen bilateral economic integration, and enhance the overall economic partnership," the ministry stated.
The discussion came after Union Commerce and Industry Minister Piyush Goyal recently travelled to Washington, D.C., where he met US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick. Follow-up virtual interactions between the two sides pushed the conversation further.
Both countries are determined to make the most of this momentum in the next few months to close the BTA, making it consistent with their common goals of economic resilience, mutual prosperity, and long-term cooperation.
Read also| Trump Open to Tariff Deals Following Implementation of Reciprocal Tariffs on April 2
Read also| Centre to Borrow ₹8 Lakh Crore in H1 FY26, Covering 54% of Annual Target
