India, US to hold trade talks in New Delhi from Dec 10

New Delhi [India], December 6 (ANI): India and the United States are scheduled to hold trade talks in New Delhi starting December 10, government sources said on Saturday.

The discussions aim to take forward negotiations on the Bilateral Trade Agreement (BTA) between the two countries.

On November 28, the chief negotiator of the deal from India, Commerce Secretary Rajesh Agarwal had said that India is hopeful of signing the first tranche of the India-US Bilateral Trade Agreement within the current calendar year.

Addressing the FICCI Annual General Meeting, he indicated that talks have progressed substantially despite recent shifts in global trade conditions.

Reflecting on the negotiations done so far, the Secretary said, "I think our expectations....we are very optimistic and very hopeful that we should find a solution within this calendar year."

India and the US were initially aiming to complete the first tranche of an India-US Bilateral Trade Agreement (BTA) by fall of 2025, but there were new developments in the US trade policy landscape, including tariffs.

US President Donald Trump imposed a 25 per cent tariff on Indian goods starting August 1, followed by another 25 per cent increase days later, citing India's continued purchase of Russian oil. The US had imposed reciprocal tariffs on several countries with whom it faces trade deficits.

There have been several rounds of talks to finalise the BTA with the United States. The BTA, formally proposed in February following directives from the leadership of both nations, seeks to more than double bilateral trade, from the current USD 191 billion to USD 500 billion by 2030. Talks were first announced during Prime Minister Narendra Modi's visit to Washington earlier this year.

India has signed 14 Free Trade Agreements (FTAs) and six Preferential Trade Agreements (PTAs) with its trading partners to give a boost to India's exports. India is negotiating FTAs with several countries and is also in talks with the EU.

Prime Minister Narendra Modi and Russian President Vladimir Putin, during their talks yesterday in New Delhi, appreciated the ongoing intensification of the joint work on a Free Trade Agreement on goods between India and the Eurasian Economic Union covering sectors of mutual interest.

They gave directions to intensify efforts in negotiations on a mutually beneficial agreement on the promotion and protection of investments.

Speaking at the HT Leadership Summit 2025, External Affairs Minister Jaishankar noted India's autonomy in maintaining its bilateral relationship with major countries.

"Everybody knows that India has relations with all the major countries in the world. And for any country to expect to have a say on how we develop our relations with others is not a reasonable proposition, because remember, the other can expect the same," Jaishankar said.

He reaffirmed India's "freedom of choice" and said the policy on upholding "strategic autonomy" continues. (ANI)

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