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India-US trade agreement to be signed; 19-chapter draft ready; Washington will host negotiations
India and the US finalised the terms of reference for the bilateral trade agreement (BTA) comprising 19 chapters, which include goods, services, and customs duties. The Indian team, led by Rajesh Aggarwal, will begin talks in Washington from April 23. The two countries target $500 billion in trade by 2030, with plans to complete the first phase by autumn.
The finalised terms of reference (TOR) by the two countries for the proposed bilateral trade agreement between the US and India comprise nearly 19 chapters.
These have been stated to consist of things like customs facilitation, services, and goods. In an attempt to accelerate the talks, an Indian official delegation is to travel to the US next week to iron out disagreements on some of the matters before actually beginning the talks for the proposed India-US bilateral trade agreement (BTA).
The Indian chief negotiator, Rajesh Agarwal, Commerce Additional Secretary, will head the delegation for the first-ever meeting between the two countries. Agarwal was nominated to become the commerce secretary from April 18. From October 1, he will assume charge.
The three-day official Indian team talks with US counterparts to be held in Washington are to start on Wednesday (April 23), the official confirmed. The visit follows closely on the heels of the visit of the US high-level team to India. The development indicates that the BTA talks are gaining momentum.
