India, US begin talks on proposed bilateral trade agreement

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Senior trade officials of India and the US formally commenced three-day talks on the proposed bilateral trade agreement (BTA) in New Delhi on Wednesday. The two countries are hoping to finalise the deal by October.

Ahead of talks, the Ministry of Commerce and Industry had issued a statement, saying, “As directed by the leaders of the two countries, India remains committed to working with the US side in the trade and economic domains.”

Assistant Trade Representative for South and Central Asia Brendan Lynch is leading the US delegation, while Indian Commerce Ministry's Additional Secretary Rajesh Agrawal is heading from the Indian side.

New Delhi has already indicated a list of products -- ranging from automobiles and alcohol to certain farm produce from the US -- on which it is willing to lower tariffs.

India remains optimistic that the initial offer and the ongoing negotiations will help in delaying the reciprocal tariffs on the country.

During Prime Minister Narendra Modi’s February visit to Washington DC, the two countries agreed to work on the BTA and deepen bilateral trade to $500 billion by 2030. If US imposes reciprocal tariffs, India’s multiple sectors, including apparel, gems and jewellery, could be adversely affected.