India-US Trade Pact in Sight? Indian Team to Visit Washington Next Week
Indian Team to Visit Washington Next Week for India-US Trade Pact Talks
An Indian delegation, led by Additional Secretary in the Department of Commerce Rajesh Agrawal, is expected to visit Washington next week to address key issues ahead of formal negotiations for the proposed India-US Bilateral Trade Agreement (BTA), according to an official.
The visit, following a US team’s trip to India from March 25-29 led by Assistant US Trade Representative Brendan Lynch, signals accelerating momentum in the trade talks.
The discussions aim to leverage a 90-day tariff pause announced by US President Donald Trump on April 9, 2025, to advance the BTA, with both nations targeting the first phase’s completion by fall 2025.
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The agreement seeks to double bilateral trade to USD 500 billion by 2030 from the current USD 191 billion. The terms of reference for negotiations, outlining the scope and framework, have already been finalized.
Virtual talks began this week, focusing on resolving differences before formal negotiations. Commerce Secretary Sunil Barthwal emphasized India’s commitment to swift trade liberalization through the BTA.
The US seeks duty concessions on industrial goods, automobiles (especially electric vehicles), wines, petrochemicals, dairy, and agricultural products like apples and nuts, while India prioritizes cuts in labor-intensive sectors such as textiles, gems, jewelry, and horticulture.
In 2024-25, the US, India’s largest trading partner, accounted for 18% of India’s goods exports and a USD 41.18 billion trade surplus. Key exports included pharmaceuticals (USD 8.1 billion) and telecom instruments (USD 6.5 billion), while imports comprised crude oil (USD 4.5 billion) and petroleum products (USD 3.6 billion).
The US has expressed concerns over its trade deficit, prompting a now-suspended 26% tariff announcement.
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