New Delhi [India], November 17 (ANI): India remains in active discussions with the United States on the proposed Bilateral Trade Agreement (BTA), and the first tranche of the deal—focused on addressing reciprocal tariffs—is now “near closure,” Commerce Secretary Rajesh Agrawal said on Monday while releasing the October trade data.
Agrawal noted that India and the United States have been holding virtual discussions on the BTA for several months. The agreement comprises two components, he explained: one that will require more time to negotiate, and a first tranche dedicated to resolving tariff-related issues. “The part relating to reciprocal tariffs should happen sooner rather than later,” he said, while emphasizing that specific deadlines cannot be set.
The BTA, formally proposed in February following directives from the leadership of both nations, aims to more than double bilateral trade—from the current USD 191 billion to USD 500 billion by 2030. Talks were first announced during Prime Minister Narendra Modi’s visit to Washington earlier this year.
In recent months, negotiations have continued despite escalating tariffs imposed by the United States. President Donald Trump levied a 25 percent tariff on Indian goods starting August 1, followed by another 25 percent increase days later, citing India’s continued purchase of Russian oil. The United States has imposed reciprocal tariffs on several countries where it faces trade deficits.
Government officials last week said discussions on the BTA are progressing well and stressed that the agreement would be “highly detailed and fully aligned with WTO norms.” They added that negotiations are being conducted with sensitivity to key sectors, and an additional round of talks may not be required.
Meanwhile, Agrawal confirmed that an India–US LPG supply arrangement, long under consideration, is also advancing. He clarified that the prospective LPG purchase is not linked to the trade negotiations but is intended to help maintain the overall trade balance between the two countries.
Over recent months, both sides have explored an interim trade arrangement; however, India has expressed reservations about US proposals seeking expanded access to India’s agricultural and dairy sectors. These areas remain sensitive for India, given their critical role in employment and livelihoods for millions.
About The Author
