India and United States (US) are betting on opportunities for early mutual wins as both sides inch closer to finalising a multi-sector Bilateral Trade Agreement (BTA) by Fall of 2025 with in-person sectoral-level engagements planned from May-end.
India’s Department of Commerce and the US Trade Representative’s Office held extensive discussions between April 23 and April 25 last week. This round of discussions followed a previous engagement held in New Delhi in March 2025, according to an official statement issued on April 29.
As part of the ongoing dialogue, officials from both sides met in Washington last week and "had fruitful discussions on wide ranging subjects covering tariff and non-tariff matters."
Sectoral expert level engagements have already taken place virtually.
"These discussions reflect a continued commitment to the objectives outlined in the Leaders’ Statement of February 2025, aiming to strengthen India-US economic relations and deepen supply chain collaboration through the Bilateral Trade Agreement," according to the statement.
Earlier, US treasury secretary Scott Bessent said that India is likely be the first to sign the trade deal with America. He added that several nations have made 'very good proposals.'
Moneycontrol had previously reported that while India sees room to reduce taxes on certain farm goods such as American almonds and pistachios, in return, New Delhi is seeking lower duties on exports such as automobile parts and essential medicines.
US has also taken up non-tariff barriers as an issue, such as localisation of digital content, certification of telecom equipment outside of labs, among others. But that most likely will be taken up in the later stages.
Earlier in April, the commerce ministry noted that India and the US are looking to conclude negotiations for the first tranche of the proposed Bilateral Trade Agreement well before the agreed timeline of Fall of 2025, after both nations signed the terms of reference for the pact.
The BTA is part of a new goal - Mission 500 - aiming to more than double bilateral trade between the two countries to $500 billion by 2030.
India ranks tenth among the top nations that export to US, at $91 billion in 2024, with Mexico, China and Canada occupying the top three positions.
The US is India's top export destination, and its fourth-largest source of imports
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