New Delhi, April 23 (ANI): The Ministry of External Affairs (MEA) on Thursday said India and the United States are making steady progress in talks to finalise a comprehensive trade agreement meant to be mutually beneficial.
At a weekly media briefing, MEA spokesperson Randhir Jaiswal described the negotiations as “constructive” and said they focus on resolving mutual concerns while expanding economic cooperation. He added that both sides are aligned on a broader vision to grow bilateral trade, citing a joint target of USD 500 billion by 2030 referenced in the interim framework.
“These engagements are ongoing and constructive. Both sides are working towards a balanced, mutually beneficial and forward premium trade agreement that takes into account each other’s concerns and priorities and to reach a trade target of USD 500 billion by 2030 so that is where we are on the welcome trade agreement,” Jaiswal said.
A senior US official told ANI on Tuesday that Washington and New Delhi are progressing toward a finalised deal as fresh negotiations take place in Washington. “The Trump administration and India continue to have positive and productive discussions towards a finalised trade deal,” the official said in response to questions about the current status of talks.
Indian negotiators have been arriving in the US capital for the latest round. One official familiar with the discussions, speaking on condition of anonymity, said most substantive issues have been resolved and only a few gaps remain. “Most of it is almost done,” the official said.
The remaining sessions are expected to focus on ironing out those gaps. The Indian delegation will meet officials from the Office of the US Trade Representative (USTR). Leading the US team is Brendan Lynch, Assistant US Trade Representative for South and Central Asia, while India’s delegation is headed by Darpan Jain, Additional Secretary in the Department of Commerce, who has been central to the talks.
Officials say the presence of senior representatives signals growing momentum for the proposed trade framework, and while specific details remain undisclosed, an announcement could come soon. A finalized deal would mark a milestone in ties between the world’s largest economy and one of its fastest-growing major economies.
On February 7, India and the US announced they had reached a framework for an interim reciprocal trade agreement. That framework reaffirmed commitment to broader bilateral trade agreement (BTA) negotiations launched by US President Donald Trump and Prime Minister Narendra Modi on February 13, 2025, aimed at enhancing market access.
Union Commerce and Industry Minister Piyush Goyal said the first tranche of the bilateral trade agreement is “almost finalised” and discussions are concentrating on securing preferential US market access for India compared with competitors. “We have almost finalised our free trade agreement, the first tranche of the bilateral trade agreement with them. We are trying to close the Ts and dots on that and work out what would be the mechanism by which India can get a preferential access, market access in the US market compared to our competitors,” he told reporters at the India-Korea Business Forum in New Delhi.
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