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In a significant development, a US team will visit India on June 5-6 to discuss a Bilateral Trade Agreement (BTA) with India, said government sources.
According to the sources, the bilateral trade talks between the two countries are progressing well. India expressed satisfaction on April 29 that the meetings to negotiate a BTA with the United States are making "positive progress" and termed the discussions "fruitful." ANI reported on May 23, through government sources, that India and the United States are poised to sign the first tranche of the much-anticipated Bilateral Trade Agreement (BTA) before July. As part of ongoing discussions on the India-US Bilateral Trade Agreement, representatives of India's Department of Commerce and the Office of the US Trade Representative met in Washington, DC, from April 23-25, 2025. The Ministry further added that the team had fruitful discussions on a wide range of subjects, including tariff and non-tariff matters, during the meetings in Washington, DC. As part of the BTA, leaders of both countries have set a bold new goal for bilateral trade - "Mission 500" - aiming to more than double total bilateral trade to USD 500 billion by 2030. Going further, sources said that the Indian government is in the process of reviewing the impact of the US court order that struck down the reciprocal trade tariffs announced by President Donald Trump. In this context, Indian think tank organisations have suggested proceeding cautiously. The Global Trade Research Initiative (GTRI) suggested that the country should proceed cautiously in its ongoing Bilateral Trade Agreement (FTA) negotiations with the US. Analysing the impact of the ruling on Trade negotiations, Ajay Srivastava, founder of GTRI, said that India should resist any agreement shaped by threats or based on unlawful measures. The India-US trade deal would mark a significant milestone in economic relations between the two big economies, potentially opening new avenues for bilateral commerce and investment. In 2024-25, for the fourth consecutive year, the US was India's largest trading partner, with bilateral trade valued at USD 131.84 billion. India had a trade surplus of USD 41.18 billion in goods with the US in 2024-25. (ANI)
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