India moving forward with US Bilateral Trade Agreement, says govt official

Speaking on the ongoing trade negotiations, the official emphasised that India is "moving in terms of a BTA" and actively "looking at a mutually beneficial deal" that would serve the interests of both nations.

The official highlighted that the current negotiations are proceeding along the framework established by the leadership of both countries, stating, "We are following the path of BTA, which the two leaders have decided."

When asked about the structure and timeline of the potential agreement, the official indicated that both nations are maintaining flexibility in their approach.

"We are looking at BTA. How it moves forward, whether there will be first phase, second phase, whatever phases will happen that will be mutually decided," the official explained.

A high-level team from India's Commerce and Industry Ministry has arrived in Washington DC, to take forward crucial negotiations for a Bilateral Trade Agreement (BTA) with the United States.

This round of negotiations is expected to begin on Monday morning (US time) and will continue for four days, another official told ANI.

Rajesh Aggarwal, Chief Negotiator and Special Secretary of the Commerce Ministry, will join the scheduled discussions on Wednesday.

India and US have to narrow differences in sectors like agriculture and automobiles and are looking for a win-win pact for the both sides.

The Trump administraion has deferred imposing additional tariffs on several countries including India till August 1, with the two sides now having additional time to negotiate a deal beyond the initial deadline of July 9.

India and United States have agreed to expand bilateral trade to reach USD 500 Billion by 2030, including through the conclusion of a Bilateral Trade Agreement.

By far, representatives of India's Department of Commerce and the Office of the U.S. Trade Representative have held several rounds of talks to conclude a trade agreement. (ANI)