Per sources, India and the US are working to finalise the framework, negotiation schedule, and terms of reference for the proposed Bilateral Trade Agreement (BTA).
The agreement is set to be completed in two phases, with the initial phase focusing on issues related to goods trade. Both nations aim to consider each other’s strengths, weaknesses, and sensitivities while striving to reach common ground.
Further clarity on the agreement is expected by the end of this week. The ongoing discussions are not the first round of negotiations.The proposed BTA is intended to provide greater predictability in tariffs, regulations, and overall economic integration. It is also expected to enhance synergy in two-way trade and investment between the two countries.
The United States has sought greater market access in areas such as industrial goods, automobiles, wines, and agriculture. In return, India is likely to seek tariff reductions in labour-intensive sectors such as textiles.
Though most imports into the US will be affected, the final structure of the tariffs remains fluid, with officials still finalising details. The US delegation’s visit to India signals continued engagement on trade and investment matters as both nations look to manage potential disruptions in key sectors.
The March 25-29 talks are expected to provide clarity on India’s position and possible exemptions before the formal announcement of tariffs next week.
Also read: India defends BRICS role, steers clear of anti-dollar moves amid Trump’s tariff threat
First Published: Mar 24, 2025 3:30 pm IS
