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The Bilateral Trade Agreement (BTA) talks between India and US resumed in Washington on Monday, after being paused due to US-Israel attack on Iran. Except for stalling the talks, there seems to be no impact of the ongoing war on the trade negotiations.
Commerce Minister Piyush Goyal confirmed that the first phase of negotiations is almost finalized. Both the sides are working out a mechanism to secure preferential market access for Indian goods in the American market, Goyal added. However, he did not mention any date or duration when the whole deal would be finalized.
An Indian delegation comprising a dozen officials, from the commerce, external affairs and customs ministries, led by chief negotiator Darpan Jain, left for Washington on Sunday to hold negotiations. The last BTA talks with US were held in February.
Before the trade talks began, Foreign Secretary Vikram Misri spoke to the US officials. He said that the discussions span trade, technology, defence and strategic coordination.
On February 7, the original BTA framework was unveiled when US tariffs on Indian goods were at 50%. The talks aimed at reducing the tariffs to the least possible and it was reduced to 18%, considered a diplomatic breakthrough, reached during the PM’s visit to Washington. However, the deal is yet to formally signed.
Many legal hurdles like the US Supreme Court striking down the sweeping ‘reciprocal tariffs’ came up. In the meantime, there is a broader shift in the trade dynamics: In 2025-26, China has overtaken the US to become India’s largest trading partner, ending a four-year streak during which the US occupied the top position. This made it more needy for the talks to be held urgently.
Tags India us trade deal
