India and the US are set to engage in fresh trade discussions starting Tuesday, with the aim of finalizing the initial phase of a long-awaited Bilateral Trade Agreement (BTA). The negotiations, scheduled from June 2 to June 4, will primarily focus on settling the legal text and addressing any remaining issues within the proposed interim agreement. Union Minister of Commerce and Industry Piyush Goyal mentioned that nearly 99% of the negotiations have been concluded, with only a few outstanding matters left to be resolved.
The primary agenda of the talks revolves around the first phase of the broader BTA framework, encompassing crucial aspects like market access, non-tariff barriers, customs facilitation, investment promotion, and economic security cooperation. Discussions are also anticipated to cover tariffs imposed under Section 301 of US trade law, with India aiming for relief from ongoing investigations and trade-related concerns. A successful trade agreement could potentially grant Indian exporters preferential access to the US market over other competing economies.
The US delegation, led by chief negotiator Brendan Lynch, will meet with India’s team headed by Darpan Jain, Additional Secretary in the Department of Commerce. While most discussions have been finalized, both sides are currently working to resolve technical issues before formally announcing the completion of the first phase. It is noteworthy that the US Supreme Court had previously ruled against President Donald Trump’s reciprocal tariff regime, leading to the introduction of a uniform 10% tariff on imports from all countries for 150 days starting February 24, which delayed the planned meeting between chief negotiators.
