New Delhi [India], June 24: India and United States are very close to sealing bilateral trade agreement (BTA), said Bethany Morrison, Deputy Assistant Secretary and Bureau of South and Central Asian Affairs.
Speaking at an event in New Delhi on Tuesday, Morrison said, "In February 2026, we announced the intention to finally conclude the historic (US-India) trade deal. We are very, very close. This is going to open India's market aof 1.4 billion to America's goods on terms that are reciprocal and mutually beneficial..."
The development comes as a team of US trade negotiators are in India's capital led by US Trade Representative Jamieson Greer.
The US Embassy in India has already described US-India trade partnership as a "win-win for both" the sides.
"From energy security to tech talent exchanges, we're building the future together," US Embassy in India posted on social media platform X.
Going further, Morrison noted that negotiations have made substantial progress since both nations announced their intention in February 2026 to work toward a comprehensive agreement.
The proposed deal is expected to create new opportunities for businesses in both countries by enhancing reciprocal market access and reducing trade barriers. U.S. officials believe the agreement could significantly deepen commercial ties between the world's largest and fifth-largest economies.
On the other hand, during his visit, Greer held discussions with Commerce and Industry Minister Piyush Goyal and also met Finance Minister Nirmala Sitharaman.
According to India's Finance Ministry, the discussions focused on avenues for expanding cooperation in economic and financial matters.
The meetings are seen as part of broader efforts by both sides to resolve pending trade issues and accelerate the conclusion of the agreement.
While U.S. officials have expressed optimism regarding the progress of negotiations, India has not yet issued any formal statement indicating a timeline for the finalization of the deal.
However, the ongoing engagement between trade negotiators and Ministers from both countries suggests that negotiations are entering a crucial phase.
If finalized, the agreement would mark one of the most significant trade developments between India and the United States in recent years, potentially boosting bilateral trade and strengthening the strategic partnership between the two nations.
The negotiations for the United States-India Bilateral Trade Agreement (BTA) were formally launched on February 13 last year.
As per the interim agreement between two countries, India will eliminate or reduce tariffs on all U.S. industrial goods and a wide range of U.S. food and agricultural products, including dried distillers’ grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products. The United States will also remove tariffs on certain aircraft and aircraft parts of India.
Despite the major progress, India has registered a resistance on contentious issues such as agriculture and dairy sectors.
As per the officials, US is in discussion with India on non-trade barriers, certain provisions of data localisation for e-commerce firms, and IPR-related issues.
READ: From sadness to trauma: Are we over-psychologizing everyday life?
Ends.
Comments (0)
Be the first to comment!