India and U.S. Fast-Track Trade Talks: In a significant step toward strengthening bilateral economic ties, India and the United States are gearing up to initiate formal negotiations on a proposed Bilateral Trade Agreement (BTA). In a significant step toward strengthening bilateral economic ties, India and the United States are gearing up to initiate formal negotiations on a proposed Bilateral Trade Agreement (BTA).The two nations have finalized the Terms of Reference (ToR), which include nearly 19 chapters covering a broad range of issues such as goods, services, and customs facilitation.
To accelerate progress and resolve outstanding concerns before official talks begin, a high-level Indian delegation led by Rajesh Agrawal, Additional Secretary in the Department of Commerce and India’s Chief Negotiator, is scheduled to visit the United States next week.
First Round of In-Person Talks from April 23
The three-day discussions, starting April 23 in Washington D.C., will be the first face-to-face engagement between the two countries for this trade pact. Rajesh Agrawal, who was recently appointed as India’s next Commerce Secretary, will take charge of the negotiations, signaling India’s commitment to fast-track the deal.
This visit follows a high-level U.S. trade delegation’s visit to India in March, which included Assistant U.S. Trade Representative for South and Central Asia Brendan Lynch, who held several key meetings between March 25 and 29. That interaction laid the groundwork for this upcoming bilateral dialogue, reflecting growing momentum toward the agreement.
Target Set for Autumn Completion of Phase One
Both sides are aiming to complete the first phase of the agreement by autumn (September–October). This timeline aligns with the 90-day suspension of certain tariffs announced by U.S. President Joe Biden (previously attributed to President Trump in earlier reports). India aims to make the most of this temporary window to secure mutually beneficial terms.
Earlier, on April 15, India’s Commerce Secretary Sunil Barthwal confirmed the country’s intent to liberalize trade relations with the U.S. and finalize the BTA at the earliest. “India is committed to pushing this forward swiftly,” he said during a media interaction.
The proposed trade pact is expected to significantly reduce or eliminate tariffs on a wide range of goods, streamline trade in services, and ease investment norms between the two countries.
Doubling Bilateral Trade to $500 Billion by 2030
Currently, India-U.S. bilateral trade stands at approximately $191 billion, and both nations have set an ambitious target to double this to $500 billion by 2030. A well-structured trade agreement could serve as a cornerstone in realizing this goal by unlocking new areas of economic cooperation and reducing trade barriers.
The BTA is also expected to reinforce India’s position as a strategic partner for the U.S. in the Indo-Pacific region, particularly amid global supply chain shifts and geopolitical realignments.
U.S. Remains India’s Largest Trading Partner
From 2021-22 to 2024-25, the United States has consistently been India’s largest trading partner. In 2024-25, India recorded a trade surplus of $41.18 billion with the U.S.—a number that has seen steady growth from $22.73 billion in 2020-21 to $35.32 billion in 2023-24.
The U.S. now accounts for approximately 18% of India’s total goods exports, 6.22% of imports, and 10.73% of total bilateral trade, making it a crucial pillar of India’s global trade architecture.
As both sides prepare for this critical round of talks, expectations are high for a constructive and collaborative approach that could lead to one of the most comprehensive trade agreements between the world’s largest democracies.
