India and US Set to Fast-Track Bilateral Trade Agreement

Commerce secretary Sunil Barthwal announced India's intention to expedite the bilateral trade agreement (BTA) with the US, aiming for an early conclusion. Both nations are keen on liberalizing trade, with formal negotiations set to begin imminently.

Key Negotiator Optimistic About Timeline

Rajesh Agrawal, additional secretary in the commerce department and India's chief negotiator, expressed confidence in meeting the proposed deadline, targeting the first tranche by Fall (Sept/Oct). Physical negotiations are expected to commence in the latter half of May.

Trade Deal to Open New Opportunities

Barthwal highlighted the potential benefits of the BTA, drawing parallels with India's successful trade pacts with Australia and the UAE. He anticipates enhanced trade relations with the US, fostering mutual growth and opportunities.

EU Negotiations on the Horizon

Amidst ongoing discussions with the US, India is also preparing for trade talks with the European Union next month. Barthwal reassured that negotiations with the US would not hinder progress with other partners, emphasizing the importance of all FTAs in improving global trade dynamics.