India remains optimistic about the prospects of the bilateral trade agreement provided with the United States and hopes that this will increase trade between the two countries, which should sit together and start working in the coming weeks.
“We must soon conclude the agreement given the ambitious calendar of the negotiation of the first tranche by the fall of 2025. We will need time to decide on the contours of the trade agreement for which the two parties will have to be Sit together and discuss, “said an additional secretary of the Ministry of Commerce Rajesh Agrawal, noting that this must be done in the next eight to nine months
The Secretary of Commerce, Sunil Barthwal, said that the Prime Minister’s visit has helped stimulate business ties between the two countries and prepared the land for a bilateral trade agreement, which is a very important objective.
As part of Prime Minister Narendra Modi’s visit to the United States to meet US President Donald Trump, the two countries left with a joint declaration on February 13 under which leaders decided to deepen the US trade relationship- Indian to promote growth that guarantees equity, national security and job creation.
To this end, the leaders have set a new bold objective for bilateral trade – “Mission 500” – aimed at more than a total double bilateral exchange at $ 500 billion by 2030. They also announced its intention to negotiate the first Step of a multi-buttimeter beneficial, multi-multi- Bilateral commercial agreement of the sector (BTA) in the fall of 2025.
Sources have indicated that negotiations on the free trade agreement should soon begin the new American trade representative. The bilateral trade agreement is considered a much fairer and equitable agreement than previous plans for a mini trade agreement with the United States under the first Trump administration.
Meanwhile, India should also restart negotiations to the India-UK free trade agreement later this month. The British Minister of Commerce is expected to visit India on February 24 and will meet the Minister of Commerce and Industry Piyush Goyal on February 25. “We will take stock of the dialogue so far and make it move forward,” said officials.
Ale negotiations with the European Union should also go ahead this month with the EU trade commissioner who is expected to meet Goyal on February 28. The 10th cycle of ALE negotiations should be held from March 10 to March 14 in Brussels.
