India-US meeting in Washington makes headway on bilateral trade agreement

New Delhi, April 29 (SocialNews.XYZ) As part of ongoing discussions on the India-US Bilateral Trade Agreement, representatives of India’s Department of Commerce and the Office of the US Trade Representative held fruitful discussions, at a meeting in Washington, from April 23-25, to conclude the first tranche of the Bilateral Trade Agreement by Fall (September-October) of 2025, according to a statement issued by the Ministry of Commerce and Industry on Tuesday.

This follows earlier bilateral discussions held in March 2025 in New Delhi.

“During the meetings in Washington, D.C., the team had fruitful discussions on wide-ranging subjects covering tariff and non-tariff matters. The team discussed the pathway for concluding the first tranche of the mutually beneficial, multi-sector Bilateral Trade Agreement by Fall of 2025, including through opportunities for early mutual wins,” the statement explained.

While productive sectoral expert-level engagements have taken place through the virtual format, in-person sectoral engagements are planned from the end of May, the statement said.

The productive discussions are part of bilateral efforts in line with the Leaders’ Statement of February 2025 to enhance and expand India-US economic ties and supply chain integration through the Bilateral Trade Agreement, it added.

Prime Minister Narendra Modi, during his visit to Washington in February this year, held talks with US President Donald Trump on negotiating the first tranche of a mutually beneficial, multi-sector Bilateral Trade Agreement by the fall of 2025.

The two leaders resolved to deepen the US-India trade relationship to promote growth that ensures fairness, national security and job creation. To this end, the leaders set a bold new goal for bilateral trade – ‘Mission 500’ - aiming to more than double total bilateral trade to $500 billion by 2030.

Meanwhile, US Treasury Secretary Scott Bessent on Monday said many top trading partners of the United States had made 'very good' proposals to avert US tariffs, and one of the first deals to be signed would likely be with India.

Bessent told a US television news channel that President Donald Trump will be "intimately involved" in each of the trade deals with each of 15 to 18 important trading partners, but it will be important to reach agreements in principle soon.

Source: IANS