Representatives of India's Department of Commerce and the Office of the US Trade Representative held meeting in the national capital for four days beginning March 26 as a follow up to the two countries agreeing to expand bilateral trade to reach USD 500 billion by 2030, including through the
Jaishankar and Clark discussed deepening trade and investments, building resilient supply chains and strengthening strategic partnership between two nations.
In a weekly media briefing, MEA spokesperson Randhir Jaiswal said that the two governments are actively working to build a framework for the Bilateral Trade Agreement (BTA), which will be a multisector agreement beneficial to both nations.
Commerce Minister Piyush Goyal had a "forward looking" discussion with US Trade Representative Jamieson Greer on a mutually beneficial bilateral trade agreement.
To achieve this, both leaders have decided to designate senior representatives to advance the negotiations. This move demonstrates their commitment to strengthening trade ties and promoting economic cooperation between the two nations.
US Commerce Secretary Howard Lutnick on Friday expressed optimism about India-US trade ties, emphasizing the need for India's agricultural trade to open up amid US President Donald Trump's plans to impose reciprocal tariffs on US trading partners, including India.
One of the major announcements was "Mission 500," an ambitious goal to double bilateral trade to $500 billion by 2030. This initiative underscores the commitment of both nations to enhancing economic cooperation and leveraging mutual strengths to drive trade growth.
Recognizing that this level of ambition would require new, fair-trade terms, the leaders announced plans to negotiate the first tranche of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) by fall 2025.
ndia has bilateral trade agreements, including Trade in Services, with Singapore, South Korea, Japan, Malaysia, Mauritius, UAE, Australia and an FTA in services and investment with the Association of South East Asian Nations
After the signing of the bilateral trade agreement between India and UAE, the bilateral trade between both countries has registered a 16 per cent increase reaching 85 billion USD from 73 billion USD two years ago highlights UAE official in an exclusive interview to ANI.
New Delhi [India], August 5 (ANI): Minister of State (MoS) for External Affairs V Muraleedharan on Friday rejected any claims that India is in talks with a bilateral trade agreement with Afghanistan for the import of Lithium.
Moscow [Russia], September 19 (ANI/Sputnik): United Kingdom's top climate official, COP26 President Alok Sharma, said on Sunday that the bilateral trade agreement with Australia will have a "substantive clause" on both countries' international climate commitments.