By TIOL News Service

NEW DELHI, MAR 31, 2025: AS a follow up to the India-U.S. Joint Statement of 13 February 2025, wherein the two sides agreed to expand bilateral trade to reach USD 500 Billion by 2030, including through the conclusion of a Bilateral Trade Agreement, representatives of India's Department of Commerce and the Office of the U.S. Trade Representative convened in New Delhi from 26-29 March 2025.

In order to realize the shared objective of promoting growth that ensures fairness, national security and job creation, both sides have through four-days of discussions in New Delhi broadly come to an understanding on the next steps towards a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA), with the goal to finalize its first tranche by fall 2025. Sectoral expert level engagements under the BTA will start virtually in the coming weeks and pave the path for an early negotiating round in person. During these discussions the two sides also had a productive exchange of views on deepening bilateral cooperation in priority areas including increasing market access, reducing tariff and non-tariff barriers and deepening supply chain integration in a mutually beneficial manner.

The meeting in New Delhi follows the visit of Union Commerce and Industries Minister Shri Piyush Goyal to Washington, D.C. from 4-6 March 2025 during which he met his U.S. counterparts - U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick and subsequent video conferences between the two sides.

The successful conclusion of the discussions reflects progress in efforts to expand India-U.S. bilateral trade and investment relations to promote prosperity, security and innovation in both the countries. These steps are designed to unlock new opportunities for businesses, drive bilateral economic integration, and reinforce the economic partnership between India and the United States.

India and the United States expressed satisfaction with the outcomes of the meeting and reaffirmed their dedication to ongoing collaboration. Both sides look forward to building on this milestone in the coming months to finalize the BTA, ensuring it aligns with the shared goals of prosperity, resilience, and mutual benefit.