Near-Completion of US-India Trade Agreement: A Milestone in Global Commerce
India and the US are on the brink of finalizing a bilateral trade agreement, with both nations converging on most issues. Ongoing talks aim to conclude the first tranche of the pact by 2025, doubling trade to USD 500 billion by 2030, despite past tariff disputes.
- Country:
- India
India and the United States are close to finalizing a long-awaited bilateral trade agreement, with negotiations advancing rapidly as both sides converge on key issues, according to an official statement on Friday.
Commerce and Industry Minister Piyush Goyal recently noted progress in talks and emphasized hopes for a fair and equitable deal soon. Indian officials, led by Commerce Secretary Rajesh Agrawal, held in-depth discussions with their US counterparts in Washington last week, with the meetings concluding on October 17.
This proposed pact aims to more than double bilateral trade to USD 500 billion by 2030 from the current USD 191 billion, despite historic tensions over tariffs. Both nations seek a mutually beneficial agreement as they target concluding the first phase by the fall of 2025.
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