India and the United States are actively working towards finalizing a mutually beneficial bilateral trade agreement, as confirmed by the Ministry of External Affairs spokesperson, Randhir Jaiswal. Both countries are in discussions to reach a fair and balanced trade deal. Commerce and Industry Minister Piyush Goyal mentioned that India and the US are in the advanced stages of negotiating this agreement.
Goyal highlighted that India has already concluded free trade agreements with three members of the Five Eyes intelligence alliance, namely Australia, the UK, and New Zealand. Talks between Indian officials and a US delegation led by Deputy Trade Representative Rick Switzer took place in Delhi recently, with Commerce Secretary Rajesh Agrawal stating that India is close to finalizing an initial framework deal with the US to reduce reciprocal tariffs.
In addition to the India-US trade talks, progress is also being made in the negotiations for the India-EU Free Trade Agreement (FTA). The Ministry of External Affairs spokesperson mentioned that the 14th round of negotiations with the EU was held in Brussels in October, with further discussions in December. The upcoming India-EU Summit, coinciding with Republic Day celebrations on January 26, is expected to focus on the proposed FTA.
