India-US Trade Talks: Paving the Path to Prosperity

India and the US have agreed to initiate sectoral talks for a bilateral trade agreement, focusing on enhancing market access and reducing trade barriers. The agreement aims to double bilateral trade by 2030. Discussions also explored tariff reductions and economic integration between the two nations.

India and the United States are on the brink of launching sectoral discussions under a proposed bilateral trade agreement in the coming weeks, according to the Indian Ministry of Commerce. This announcement follows four days of negotiations between senior officials from both countries, culminating on Saturday.

These expert-level engagements are set to commence virtually soon and aim to lay the groundwork for an in-person negotiating round. The goal is to finalize the first phase of the trade agreement by fall 2025, enhancing economic cooperation, market access, and supply chain integration.

The discussions reflect a step forward in efforts to boost bilateral trade and investment relations, targeting a trade volume of USD 500 billion by 2030. The focus remains on reducing tariff barriers and expanding opportunities for businesses, fostering a resilient economic partnership.

(With inputs from agencies.)