India-US Deal Momentum Build: The US team interacted on BTA in Delhi; Goyal says that interim treaty may reach soon
The United States and India are intensifying negotiations on a bilateral trade agreement, this week to finalize the first phase of the proposed deal with officials of the two sides meeting in New Delhi.Commerce and Industry Minister Piyush Goyal said on Thursday that the ongoing discussions are moving well, and additional US authorities are expected to attend the talks on 6 June.“The conversation is moving well. The US team is for talks in India,” Goyal asked reporters in Bresia, Italy, where they are on an official visit to promote business and investment relations with Italian leadership and industry.According to PTI, the US and India are targeting an interim trade agreement by the end of June. The comprehensive target jointly announced by Prime Minister Narendra Modi and US President Donald Trump in February is to finalize a multi-regional bilateral trade agreement (BTA) by September-October 2025. The deal aims to trade over $ 500 billion from the current level of $ 191 billion by 2030.India is also emphasizing for full exemption from 26% mutual tariffs imposed on household items as part of the current ongoing dialogue.Last month, Rajesh Aggarwal, the Chief of India’s chief negotiator, Commerce Department, organized a four -day round in Washington with his American counterpart. Goyal traveled to the American capital to provide political inspiration for talks.FY has been the largest trading partner in the US for the fourth consecutive year in 2024-25, with a total trade of $ 131.84 billion. About 18% of India’s total goods exports in the US, 6.22% import and overall goods are 10.73% of trade.
