India-US trade deal: Indian delegation to visit US this week; BTA discussions on track

Another round of trade negotiations between India and the US is set to begin as a team of senior officials will be visitng the United States this week.An official told PTI that discussions on the proposted bilateral trade agreement with Washington are proceeding well.“The Indian team will visit this week,” the official added.The first tranche of the pact was scheduled to be completed by the fall of this year, between October and November.Last month, senior delegation, headed by commerce and industry minister Piyush Goyal, visited the United States to boost bilateral trade and investment. During the trip, Goyal held crucial discussions with US trade representative ambassador Jamieson Greer and Sergio Gor, the US Ambassador-designate to India. The talks focused on advancing a Bilateral Trade Agreement (BTA), with both sides committing to ongoing dialogue aimed at reaching an early and mutually advantageous deal. In addition to government-level meetings, the team also engaged with prominent US businesses and investors, who showed strong confidence in India’s growth prospects and signalled plans to increase their investment and trade activities in the country.Earlier, while in Qatar, Goyal also said that the government is actively engaging with the United States at multiple levels regarding the proposed Bilateral Trade Agreement (BTA), indicating potential progress toward finalising the deal.“Our talks with the United States are ongoing continuously. Contacts are maintained at different levels. We never negotiate based on deadlines. The possibilities are full. Every possibility exists. Currently, the US government is in shutdown mode. In light of that, we’ll have to see how, where, and when the talks can take place.”India and the 27-member European Union (EU), on Sunday, concluded the 14th round of negotiations for a proposed free trade agreement (FTA) in Brussels, as both sides aim to resolve remaining issues and move closer to signing the deal by year-end. The five-day session, which commenced on October 6, focused on bridging gaps in crucial areas of trade in goods and services. In the final days, Indian negotiators were joined by commerce secretary Rajesh Agrawal to give additional momentum to the discussions.