India–US Trade Deal: BTA talks to resume in New Delhi from December 10

India and the United States are scheduled to hold trade talks in New Delhi starting December 10, government sources said on Saturday, according to an ANI report. The discussions aim to advance 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.

Progress despite global trade shifts

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Addressing the FICCI Annual General Meeting, Agarwal noted that talks have progressed substantially despite recent shifts in global trade conditions. Reflecting on the negotiations done so far, he said, "I think our expectations....we are very optimistic and very hopeful that we should find a solution within this calendar year," ANI reported.

Also Read: Donald Trump hints at nearing India-US trade deal, signals tariff reduction ahead

India and the US were initially aiming to complete the first tranche of the BTA by fall 2025. However, new developments in US trade policy, including tariffs, have influenced the timeline. 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 has imposed similar tariffs on several countries with whom it faces trade deficits.

Also Read: India-US trade talks ‘going on very well’: Piyush Goyal on negotiations with Washington

BTA targets $500 billion trade by 2030

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. Several rounds of talks have already taken place to finalise the agreement. 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) to boost exports. It is also negotiating FTAs with several other countries and continuing discussions with the EU.

During talks with Russian President Vladimir Putin in New Delhi yesterday, Prime Minister Modi appreciated the intensifying joint work on a Free Trade Agreement on goods between India and the Eurasian Economic Union, covering sectors of mutual interest. The leaders also directed efforts to advance negotiations on a mutually beneficial agreement on the promotion and protection of investments.

Speaking at an event in New Delhi, External Affairs Minister S. Jaishankar highlighted India's independent approach to international relations. "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," he said.