- विज्ञापन -
New Delhi: Official sources indicate that the initial phase of the bilateral trade agreement between India and the United States is likely to be finalized within the 90-day tariff pause established by the Donald Trump administration.
The terms of reference for the agreement have already been set, and further negotiations are planned primarily via video conferencing. However, if necessary, Indian negotiators may travel to Washington, or US officials could visit Delhi, according to senior officials.
Moreover, there is a heightened vigilance to prevent other countries from routing their exports through India to avoid the higher tariffs imposed on them. The Central Board of Indirect Taxes and Customs (CBIC) has been alerted to ensure that Indian exporters do not use third countries as a means to reroute their goods.
Officials emphasized that India is a trusted partner of the US, and such evasive actions could harm its reputation.
Meanwhile, Commerce Minister Piyush Goyal stated on Friday that “very good negotiations” are ongoing with the US. He expressed that India has a strong case for a bilateral trade deal, especially considering its growth potential and demographic advantages.
“With a large, aspirational, young population poised to increase demand for goods and services, India is well-positioned to enter a favorable agreement with the US in the next 25-30 years,” Goyal said during a joint press event with Italy’s Deputy Prime Minister Antonio Tajani.
He added that while deadlines can accelerate discussions, the negotiations for the bilateral trade agreement (BTA) should prioritize national interests and do not require a rushed approach.
India and the US are currently outlining the framework of the BTA, which is part of an initiative called “Mission 500,” aimed at more than doubling bilateral trade to $500 billion by 2030.
On Wednesday, the US exempted 75 non-retaliating countries from its reciprocal tariffs for a 90-day period, and a 10 percent baseline tariff has been imposed on all countries except for China.
