India & US actively working to build framework for Bilateral Trade Agreement: MEA
| 2025-03-21
Representative image.
India and the US plan to finalise the first tranche of a Bilateral Trade Agreement by the end of 2025
India and the US are in the process of taking bilateral trade negotiations forward, the Ministry of External Affairs (MEA) said on Friday (March 21, 2025).
“The two governments are actively working to build a framework for the BTA, which would aim to expand trade, enhance market access, reduce tariff and non-tariff barriers, and deepen supply chain integration,” MEA Spokesperson Randhir Jaiswal said in response to a question at the weekly media briefing.
The statement follows US President Donald Trump’s reiteration that Washington will impose reciprocal tariffs on India from April 2, 2025.
“The Government of India remains engaged with the US administration at various levels to arrive at a mutually beneficial, multi-sector Bilateral Trade Agreement,” Jaiswal pointed out.
Commerce and Industry Minister Piyush Goyal visited the US from March 3-7, 2025. He met the US Commerce Secretary and the US Trade Representative during the visit.
Earlier, following extensive talks in Washington DC last month, Prime Minister Narendra Modi and President Donald Trump had set ambitious goals for bilateral trade by announcing plans to finalise the first tranche of a Bilateral Trade Agreement by the end of 2025 and expand trade to more than USD 500 billion by 2030.
“Our teams will work on an early conclusion of a mutually beneficial Trade Agreement,” Prime Minister Modi said at a joint press conference with President Trump.
According to the joint statement issued after their meeting, the US and India will take an integrated approach to strengthen and deepen bilateral trade across the goods and services sector, and will work towards increasing market access, reducing tariff and non-tariff barriers, and deepening supply chain integration.
“The two governments are actively working to build a framework for the BTA, which would aim to expand trade, enhance market access, reduce tariff and non-tariff barriers, and deepen supply chain integration,” MEA Spokesperson Randhir Jaiswal said in response to a question at the weekly media briefing.
The statement follows US President Donald Trump’s reiteration that Washington will impose reciprocal tariffs on India from April 2, 2025.
“The Government of India remains engaged with the US administration at various levels to arrive at a mutually beneficial, multi-sector Bilateral Trade Agreement,” Jaiswal pointed out.
Commerce and Industry Minister Piyush Goyal visited the US from March 3-7, 2025. He met the US Commerce Secretary and the US Trade Representative during the visit.
Earlier, following extensive talks in Washington DC last month, Prime Minister Narendra Modi and President Donald Trump had set ambitious goals for bilateral trade by announcing plans to finalise the first tranche of a Bilateral Trade Agreement by the end of 2025 and expand trade to more than USD 500 billion by 2030.
“Our teams will work on an early conclusion of a mutually beneficial Trade Agreement,” Prime Minister Modi said at a joint press conference with President Trump.
According to the joint statement issued after their meeting, the US and India will take an integrated approach to strengthen and deepen bilateral trade across the goods and services sector, and will work towards increasing market access, reducing tariff and non-tariff barriers, and deepening supply chain integration.
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