India-US Trade Agreement: A Potential 'Win-Win' Breakthrough

India and the US are working on finalizing a trade agreement during a 90-day tariff suspension. The deal aims to double bilateral trade to USD 500 billion by 2030. Current negotiations and terms of reference are in progress, with India keen to secure a 'win-win' outcome.

Negotiations between India and the United States are advancing as both nations work towards finalizing a trade agreement. The deal, crucial to enhancing economic ties, could be concluded during a 90-day suspension period announced by the Trump administration, providing a significant opportunity for mutual progress.

Both countries have outlined the framework needed to commence negotiations, aiming for completion by fall of this year. The ambitious goal is to more than double bilateral trade to USD 500 billion by 2030, up from the current USD 191 billion.

While discussions are ongoing, India's export landscape includes drug formulations, telecom instruments, and precious stones, while key imports from the US comprise crude oil and electric machinery. Tariff decisions remain instrumental in shaping the trade dialogue's outcome.

(With inputs from agencies.)