The details of the trade deal between India and the United States are 99% finalised, Union Minister of Commerce and Industry, Piyush Goyal said on Monday.
His remarks came as a high-level US delegation arrived in New Delhi for a fresh round of negotiations. According to Goyal, the first tranche of the bilateral trade agreement with the US will be concluded as soon as possible. In a press conference, Piyush Goyal said, "As far as the US team is concerned, some members have already arrived, while others are arriving tonight. Our meetings are scheduled for 2,3 and 4 June. The leaders of both nations had already announced the framework agreement back on February 3." "All the major points have been settled. U.S. Ambassador to India, Sergio Gor, recently stated that 99% of the details have been finalised. I am fully confident that we will conclude the first tranche of the bilateral trade agreement with the US as soon as possible. We will sign it and then proceed to initiate further discussions on how to formulate an even more comprehensive bilateral trade agreement moving forward."
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India-US trade talks resume
As per sources on the India-US bilateral trade talks, Indian negotiators will focus on preferential access among competitors. Tariff relief from US Section 301 investigations top of the agenda with the US trade team. According to the government, the US delegation will be led by chief negotiator Brendan Lynch, while India’s team will be headed by Darpan Jain, additional secretary in the Department of Commerce.
The negotiations are aimed at advancing the first phase of the broader Bilateral Trade Agreement (BTA), which covers key areas including market access, non-tariff barriers, customs and trade facilitation, investment promotion, and economic security cooperation.
(With agency inputs)
