Government says trade talks are progressing well with no major differences.
Key Highlights
- India and the US have finalized the framework for a trade agreement.
- Officials said the deal will be signed at an appropriate time.
- Negotiations on the broader Bilateral Trade Agreement (BTA) are also progressing.
- India is seeking tariff advantages over competing countries.
- Commerce Minister Piyush Goyal dismissed reports of any deadlock in negotiations.
New Delhi: India and the United States have completed the framework for a trade agreement, with officials stating that negotiations are progressing smoothly and the deal will be signed at the appropriate time.
Government officials said discussions on both the framework agreement and the broader Bilateral Trade Agreement (BTA) are moving forward, with both sides having a clear understanding of the issues under negotiation.
India is seeking a comparative tariff advantage over competing countries to improve market access for its exports. Officials emphasized that there are no significant differences between the two countries and that bilateral trade continues to grow.
Commerce and Industry Minister Piyush Goyal also rejected reports suggesting delays in the trade pact, stating that both governments remain committed to a balanced and commercially meaningful agreement that benefits businesses, farmers, workers and consumers.
Meanwhile, Commerce Secretary Rajesh Agarwal said India continues to engage with the US on the ongoing Section 301 investigations related to forced labour and excess industrial capacity while closely monitoring developments.
