The terms of reference to propose BTA have already been signed by the two parties. | Photo credit: Kevin Lamarque
Through videoconferences and physical meetings sudden
“We are in a continuous commitment. It could be through videoconference. It could be some visits in both directions. The work has begun. We are ahead of all others. Among several posilitions, the two parties could gain the gain in the gain of the brakes an official source A said said Business line.
On Wednesday, Trump suspended for a period of 90 days the reciprocal rates he had announced in commercial partners, including a 26 percent tax in India. A reference rate or 10 percent remained applicable in all.
However, the Bilateral Commercial Agreement (BTA) proposes India-United States would take more time and efforts will be made to deliver the first section for the autumn of 2025, said the official.
The terms of reference to propose BTA have already been signed by the two parties.
“Everything is on the table, both tariffs and non -tariff problems,” said the official. This indicates that issues such as intellectual property, government hiring, digital trade and data location, in which the United States has been interested for a long time, were also under discussion.
“There are many possibilities to finish the low improvement fruit. There are many possibilities to end the form and shape of the BTA,” said the official.
The Minister of Commerce and Industry, Piyush Goyal, said that ensuring the interests of the country would be or main concern in any negotiation.
“We never negotiated at gunpoint. Favorable time limitations motivate us for faster conversations, but until the moment we cannot ensure the interest of our country and our people, we do not hurry,” Goyal said Friday.
The minister added that India was already in dialogue with the US for a bilateral commercial agreement and with the enormous opportunities offered by the country with a population of 1,400 million, it is a convincing case to hold a good agreement for the United States.
According to the United States Secretary of the Treasury, Scott Besent, the broad reciprocal tariffs announced by Trump were part of a negotiation strategy that led to more than 75 countries to negotiate. Commercial negotiations were mainly carried out with “neighbors of China” such as Vietnam, Japan, South Korea and India, said Thursday.
“… I saw Vietnam today. Japan is in front, South Korea and India,” Besent said.
India wants to reach a friendly agreement with the US. UU. On reciprocal tariffs, since it is the largest export destination in the country. In 2024, India exported a good value of $ 77.51 billion to the US and its imports were Werth $ 42.19 billion, which led to a commercial imbalance or at $ 35 billion.
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Posted on April 11, 2025