India plans to seal trade deal with US by fall 2025: EAM Jaishankar
India Plans Groundbreaking Trade Deal with the US by Fall 2025 India and the United States are set to finalize a historic Bilateral Trade Agreement (BTA) by the fall of 2025, according to External Affairs Minister S. Jaishankar.
New Delhi: India Plans Groundbreaking Trade Deal with the US by Fall 2025 India and the United States are set to finalize a historic Bilateral Trade Agreement (BTA) by the fall of 2025, according to External Affairs Minister S. Jaishankar.
The announcement was made during the News 18 Rising Bharat Summit in New Delhi on Wednesday, where Jaishankar revealed that India and the US had reached an understanding to negotiate the BTA following bilateral talks between Prime Minister Narendra Modi and President Donald Trump earlier this year.
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A Major Step Toward Expanding Trade Ties Between India and the US
India is poised to become the only country to reach such an agreement with the United States since President Trump’s second term began. Jaishankar emphasized the importance of the trade deal, especially after reciprocal tariffs were imposed, with India facing 27% tariffs. He pointed out that while the effects of these tariffs are still uncertain, the deal aims to resolve the situation and further bolster bilateral trade relations.
“We have been very open and constructive with the Trump administration, and we agreed to try to negotiate a bilateral trade agreement by the fall of this year,” Jaishankar said. He highlighted that the goal of the agreement is not only to address the current trade situation but also to pave the way for long-term economic growth between the two nations.
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India and US Set Ambitious Trade Target of $500 Billion by 2030
In line with their shared vision, India and the US have set an ambitious goal of expanding bilateral trade to $500 billion by 2030. This trade agreement will mark a major milestone in deepening the economic partnership between the two countries, which has already seen significant growth in recent years.
According to the Ministry of Commerce and Industry, sectoral expert-level engagements under the BTA are set to begin virtually in the coming weeks. These discussions will lay the groundwork for in-person negotiations, which are expected to start soon, signaling the beginning of a new phase in India-US trade relations.
Strategic Goals Behind the Bilateral Trade Agreement
Jaishankar noted that this trade agreement has always been a long-standing objective for India, and the current developments reflect the country’s strategic approach to enhancing its economic ties with the US. The deal is expected to bring about significant benefits for both nations, with India seeking to balance trade imbalances and open new markets for its goods and services.
In conclusion, the BTA negotiations are a promising step toward stronger economic cooperation between India and the US, setting the stage for enhanced trade ties in the coming years.
