New Delhi, May 23 (IANS) India and the US have made further progress on concluding a mutually beneficial trade agreement, Union Commerce and Industry Minister Piyush Goyal has stressed, amid talks with the US Commerce Secretary Howard Lutnick towards the first tranche of Bilateral Trade Agreement (BTA).
India presents a compelling case to the US for a bilateral trade deal, given the outlook on growth and demography.
“Held a constructive meeting with Secretary Howard Lutnick for a mutually beneficial trade agreement,” said Goyal in a post on X social media platform on Thursday (US time).
The union minister further stated that the two nations are “committed to enhancing opportunities for our businesses and people”.
India and the US are working to sign the first tranche of BTA to bring down tariffs before the agreed timeline of the fall of 2025, as the the terms of reference for the pact have already been finalised.
Earlier, Goyal had said that “very good negotiations” with the US were underway.
“Looking at the growth, India offers in the next 25-30 years with a large, aspirational, young population who will add to the demand for goods and services, we believe India will be a compelling case to enter into a good agreement with the US,” Goyal had told reporters.
If both the countries come to an agreement on reducing tariffs, it would lead to higher trade for US and India. Prime Minister Narendra Modi and US President Donald Trump have set an ambitious target of $500 billion bilateral trade by 2030 in a joint statement during the Indian PM’s recent visit to Washington, DC.
The US President claimed recently that India offered to remove all tariffs on American goods, but added that he was in no rush to finalise a trade deal despite the apparent breakthrough.
–IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
