India-US Ties: New Delhi, Washington To Hold Trade Talks From December 10 – What’s On The Cards? , India News

India-US Trade Talks: India and the US will hold trade talks in New Delhi starting December 10. The discussions aim to take forward the negotiations on the Bilateral Trade Agreement (BTA) between the two nations. India and the US were initially aiming to conclude the first tranche of the agreement by the fall of 2025, but there were different developments in the US trade policy landscape, including tariffs.

ANI reported, citing government sources, said on Saturday, about the trade talks between India and the US. Meanwhile, earlier, on November 28, the chief negotiator of the deal from India, Commerce Secretary Rajesh Agarwal, had shown hope of signing the first tranche of the India-US Bilateral Trade Agreement within this calendar year.

Addressing the FICCI Annual General Meeting, he indicated that talks have progressed substantially despite recent shifts in global trade conditions.

Reflecting on the negotiations done so far, the Secretary said, “I think our expectations….we are very optimistic and very hopeful that we should find a solution within this calendar year.”

Trump’s Tariffs On India

US President Donald Trump imposed a 25 per cent tariff on Indian goods starting August 1, followed by another 25 per cent increase days later, citing New Delhi’s continued purchase of Russian oil.

The Trump administration had imposed reciprocal tariffs on several countries with whom it faces trade deficits.

There have been several rounds of talks to finalize the BTA with the United States.

What Is India-US Bilateral Trade Agreement?

The BTA, formally proposed in February following directives from the leadership of both nations, seeks to more than double bilateral trade, from the current USD 191 billion to USD 500 billion by 2030. Talks were first announced during Prime Minister Narendra Modi’s visit to Washington earlier this year.

(with ANI inputs)