India and US Finalising Bilateral Trade Agreement After Concluding Most Discussions: Piyush Goyal

India and the United States have concluded most of the discussions regarding their proposed bilateral trade agreement and are currently fine-tuning the pact, Commerce and Industry Minister Piyush Goyal said on Monday.

Speaking during a two-day official visit where he is accompanying a business delegation, Goyal provided an update on the trade negotiations between the two nations.

While addressing the India-Netherlands Business Forum, the minister also highlighted India's broader trade engagement track record, noting that the country has concluded nine free trade agreements over the last four and a half years.

Bilateral trade discussions between India and the US previously reached a milestone in February when both nations announced the finalisation of the framework for the first phase of the bilateral trade agreement (BTA). However, subsequent changes in the tariff landscape within the United States necessitated further negotiations on the pact before final implementation.

"The fine-tuning of the India-US bilateral trade agreement marks a significant development for cross-border commerce and macroeconomic stability. As the regulatory and tariff landscapes evolve, businesses across sectors will need to closely monitor the final contours of this pact to assess import-export dynamics, compliance requirements, and potential market access opportunities in both nations." — Dr. Shishir Gupta, Founder & CEO, StartupLanes