India is on track to finalise a bilateral trade agreement (BTA) with the United States by fall 2025, making it possibly the only country to have reached such a mutual understanding with Washington, said External Affairs Minister S. Jaishankar on Wednesday.
Speaking at the ‘Rising Bharat Summit’ in New Delhi, Jaishankar highlighted India’s proactive approach in engaging with the US administration early on, including during Donald Trump’s second term as President. “We were very open and constructive with the Trump administration, and so were they. We agreed to work towards concluding a bilateral trade deal by fall this year,” he said.
This comes in the wake of new reciprocal tariffs imposed by the US, under which Indian exports now face duties of up to 27%. Despite the uncertainty around the impact of these tariffs, Jaishankar affirmed that India’s strategy remains focused on resolving the issue through a comprehensive trade pact.
Following high-level talks between Prime Minister Narendra Modi and President Trump in Washington DC earlier this year, both sides agreed to negotiate the first tranche of the BTA by late 2025. The agreement aims to serve as a stepping stone toward achieving the ambitious goal of $500 billion in bilateral trade by 2030.
The Ministry of Commerce and Industry has announced that sector-specific expert-level discussions will commence virtually in the coming weeks, setting the stage for in-person negotiations soon.
