Talks now seem to be progressing on the stuck trade deal between India and America. While recently a team of American negotiators had come to India, now a big update has come in this matter. The Indian team is going to America this week to take forward the talks on trade agreement between the two countries. After Prime Minister Narendra Modi talked to US President Donald Trump last week, there were indications that this trade deal would move forward.
PM Modi-Trump talked
It is noteworthy that on Thursday last week, Prime Minister Narendra Modi had talked to US President Donald Trump. After this he said that talks on trade deal between the two countries are progressing positively. Now a senior Indian delegation is expected to hold another round of trade talks this week, Business Today reports. America Will go. This will be an important step towards the proposed Bilateral Trade Agreement (BTA) between the two countries.
Round of talks continuing since February
The process of talks on India-US Trade Deal has been going on since February this year. Under this, 5 rounds of talks have already been completed. Quoting an official related to the matter, the PTI report said that the talks on the trade deal between the two countries are progressing in the right direction and to resolve the issues involved, the Indian team is going to visit America this week for the next round.
It is noteworthy that the already imposed 25% tariff on India’s purchase of Russian oil was increased to 50% by Trump, after which the talks on the trade deal came to a halt. But where US negotiators had reached New Delhi last month, now Indian negotiators are going to America. It is expected that along with other matters related to the deal, the issue of tariff may also arise in this upcoming meeting.
Piyush Goyal had visited America
Union Commerce and Industry Minister Piyush Goyal also visited New York last September, where he led a delegation with American counterparts on trade between the two countries. This was followed by news that both sides agreed to continue talks to quickly conclude a mutually beneficial bilateral trade agreement. During his US visit, Piyush Goyal had discussed several aspects of the proposed trade infrastructure with US Trade Representative (USTR) Jameson Greer and US Ambassador to India Sergio Gore.
What is the purpose of India-US trade deal?
Talking about the India-US trade deal, the aim of this agreement between the two countries is to double the bilateral trade from the current $191 billion to $500 billion by 2030. America had emerged as India’s largest trading partner for the fourth consecutive year in 2024-25. Whose total trade is 131.84 billion dollars, which includes exports from India worth 86.5 billion dollars. At present, America’s share in India’s total merchandise exports is about 18% and 6.22% in imports.
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