A big information has come to light regarding the trade agreement between India and America. Quoting government sources, it is being claimed that a team of US officials may come to India next week for talks on the proposed bilateral trade agreement.
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This visit of American officials is considered very important. All of them are working to finalize the first phase of the India and America agreement. According to a source, the team is likely to arrive next week. Dates are being finalized and discussions are ongoing.
Trump’s team will come after the tariff ban
This visit of US officials will be the second visit after 25 percent tariff and additional 25 percent penalty was imposed on Indian goods entering the US market to buy Russian crude oil. Earlier the team had visited on 16 September. On September 22, Commerce and Industry Minister Piyush Goyal also visited the US leading an official delegation for trade talks. He was also accompanied by the then special secretary in the ministry, Rajesh Aggarwal and other officials. Aggarwal is now the Commerce Secretary of India.
Talks between India and America on two issues
India and the US are holding two parallel negotiations – one on a framework trade agreement to deal with tariffs and the other on a comprehensive trade agreement. In February, the leaders of both the countries had directed officials to negotiate the proposed bilateral trade agreement (BTA). Six rounds of talks have taken place so far regarding the first phase of the agreement. The objective of this agreement is to more than double the bilateral trade from the current US$ 191 billion to US$ 500 billion by 2030.
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Piyush Goyal visited Washington in early May. He had discussions with US Commerce Secretary Howard Lutnick in Washington. The US will remain India’s largest trading partner for the fourth consecutive year in 2024-25, with bilateral trade at US$131.84 billion (exports worth US$86.5 billion).
