Commerce and Industry Minister Piyush Goyal said on Thursday that the US team is in New Delhi for the next round of talks for the proposed bilateral trade agreement. He said that the conversation is moving well. According to PTI news, some more American officials will reach India on 6 June to attend a conversation with their Indian counterparts. In February last, US President Donald Trump and Prime Minister Narendra Modi had announced a plan to hold a plan to first interacted by the autumn (September-October) of 2025 by mutually beneficial multi-regional bilateral trade agreement (BTA).
What is the purpose of conversation?
According to the news, the objective of the conversation is to double bilateral trade by 2030 to double US dollars to US $ 500 billion. Goyal has come here on an official visit to interact with Italian leaders and business representatives to promote trade and investment. This visit of the US official party is special because India and the United States may agree on the interim trade agreement by the end of June, in which New Delhi is insisting on giving full discount on domestic goods from 26 percent mutual tariffs.
How much is bilateral trade
Rajesh Aggarwal, the chief negotiator of India, Special Secretary in the Department of Commerce, completed his four -day visit to Washington last month. He interacted with his American counterpart on the proposed agreement. Goyal was also in Washington to speed up trade talks. The US will remain India’s largest trading partner in the fourth consecutive year 2024-25, with bilateral trade of US $ 131.84 billion. America is about 18 percent of India’s share in total goods exports, 6.22 percent in imports and 10.73 percent in the country’s total trade trade.
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