The commerce ministry said both sides reiterated their shared goal of expanding bilateral trade, fostering innovation, and building resilient, trusted supply chains.
The two-day ministerial-level negotiations on the proposed first phase of the Indo-US bilateral trade agreement (BTA) ended on Wednesday, without any breakthrough. Officials, however, claimed that the trade talks appeared to be closer than ever.
The multiple rounds of discussions were held on both Tuesday and Wednesday between commerce and industry minister Piyush Goyal and US Trade Representative Jamieson Greer. Both sides are looking at finalising the talks before the expiry of the 10 per cent temporary tariffs on July 24.
In an official statement, the commerce ministry said both sides reiterated their shared goal of expanding bilateral trade, fostering innovation, and building resilient, trusted supply chains.
“The discussions focused on pathways to conclude an interim agreement as an important milestone towards a comprehensive BTA. The two leaders conducted a comprehensive review of core elements, including enhanced market access, digital trade, supply chain resilience, reduction of non-tariff barriers, and expanded cooperation in strategic sectors,” the ministry said.
As per the ministry, the two sides expressed confidence that ongoing negotiations will further deepen economic ties and strengthen the India-US Comprehensive Global Strategic Partnership.
In a post on X, Goyal said that he reviewed progress of the ongoing India-US trade discussions and explored avenues to further deepen our economic partnership. “I appreciate ambassador Greer's leadership and the sustained efforts of both teams in advancing our discussions in a constructive and forward-looking manner,” Goyal said.
A senior US official also said the United States and India are ‘very, very close’ to concluding a historic bilateral trade deal that will open the 1.4 billion-strong Indian market to American goods on reciprocal and mutually beneficial terms. “We're not measuring the relationship by meeting. We’re measuring it by results…,” US deputy assistant secretary of state Bethany Poulos Morrison said in a social media post.
