India and the US are exercising to finalize the trade agreement as soon as possible. A senior officer of the Department of Commerce said on Tuesday that the two sides are preparing to start negotiations by the second fortnight of May.
Virtual discussion related to the sector will begin this week. During the US Trade Representative (USTR) team visit to New Delhi, the scope (TOR) of the proposed bilateral trade agreement between India and the US was finalized and signed last month.
India is also keeping an eye on non -fee obstacles along with fees obstacles in this agreement. If both sides end these obstacles, then there will be a sharp increase in trade between the two countries. Both sides are hoping that the first phase of the agreement will be finalized by September-October this year, which aims to increase the business between the two countries to more than double Rs 500 crore by 2030. The two countries are also exploring the possibility of interim trade agreement within the next 90 days, so that the ongoing negotiations can lead to progress and mutually profitable results.
First Published – April 15, 2025 | 10:44 PM IST
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