India-USA Trade Talks: A Push for Economic Synergy

India and the United States are accelerating negotiations for a bilateral trade agreement to enhance market access and reduce tariffs. Amid US import duties on Indian goods, sector-specific talks are underway to finalize the agreement structure, aiming to double bilateral trade to USD 500 billion by 2030.

India and the United States are racing against time to seal a much-anticipated bilateral trade agreement, aimed at boosting commercial ties between the two economic giants. The push comes on the heels of Washington's decision to levy an additional 27% import duty on Indian products, effective from April 9.

This strategic dialogue is setting the stage for sector-specific discussions from this month onwards, with both nations eager to iron out the structural details of the pact. On the negotiating table are issues like tariff and non-tariff barriers, market access, and supply chain integration, as confirmed by the Indian Commerce Ministry.

A high-level US delegation, led by Assistant US Trade Representative Brendan Lynch, recently visited India to discuss the preliminary terms of the agreement. The objective is ambitious: more than doubling the current bilateral trade from USD 191 billion to USD 500 billion by 2030, despite the complexities involved in trade negotiations.

(With inputs from agencies.)