India and the United States are continuing negotiations to finalize a Bilateral Trade Agreement (BTA), with both sides remaining actively engaged to conclude a “fair, balanced and mutually beneficial” deal, the government said on Friday.
Addressing the weekly press briefing, Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal said discussions between New Delhi and Washington were progressing.
“Both governments – the United States and India – continue to remain committed to achieving a fair, balanced and mutually beneficial bilateral trade agreement,” he said.
His comments follow recent remarks by Commerce and Industry Minister Piyush Goyal, who said India and the United States are at an advanced stage of negotiations on the BTA. Goyal also pointed out that India has already concluded free trade agreements with three members of the Five Eyes intelligence alliance – Australia, the United Kingdom and New Zealand – while the United States and Canada are the other members of the group.
Momentum in India-US negotiations gained momentum earlier this month when a US delegation led by Deputy Trade Representative Rick Switzer visited India from December 9-11. This was Switzer’s first visit to India in his new role. During the trip, he met Goyal, Commerce Secretary Rajesh Agrawal and other senior officials.
Agrawal previously indicated that India was “very close” to finalizing a first framework agreement with the United States, aimed at easing reciprocal tariffs and resolving outstanding market access issues.
At the same time, negotiations on the free trade agreement between India and the European Union are also progressing. Jaiswal said the 14th round of negotiations was held in Brussels in October, followed by visits by negotiating teams and discussions with the European Trade Commissioner in December. “Both sides remain engaged and we will see how we can move this conversation forward,” he said.
Agrawal noted that India and the EU are narrowing their differences after in-depth engagement on multiple issues, and more physical and virtual meetings are planned.
This commercial push comes against a backdrop of growing engagement with key partners. India recently concluded one of its fastest-growing FTAs with New Zealand, improving market access and tariff preferences for Indian exporters and positioning the country as a gateway to wider markets in Oceania and the Pacific Islands.
With ongoing sustained negotiations with the US and EU, India is positioning commercial diplomacy as a central pillar of its economic strategy.
About The Author
