Strengthening Economic Ties Between India and the US

In a significant move to deepen economic relations, India and the United States have finalized the Terms of Reference (ToRs) for a proposed bilateral trade agreement (BTA) encompassing 19 chapters, including goods, services, customs facilitation, and investments.

Upcoming High-Level Talks in Washington

A high-level Indian delegation, led by Rajesh Agrawal, the additional secretary in the department of commerce and India’s chief negotiator, is set to visit Washington for a three-day round of in-person talks starting Wednesday, April 23. This visit aims to fast-track negotiations following the 90-day tariff pause announced by US President Donald Trump.

Goals and Challenges

The bilateral trade between India and the US is targeted to more than double to $500 billion by 2030, up from the current $191 billion. However, the widening trade gap has raised concerns, prompting discussions on tariff cuts and greater market access for key products from both nations.

Key Exports and Imports

India’s top exports to the US include drug formulations, telecom instruments, and precious stones, while imports from the US are dominated by crude oil, petroleum products, and coal. The upcoming talks are expected to address these trade dynamics and pave the way for a historic agreement.