After the FTA with the EU, another piece of good news for India! Only formalities remain on the trade deal with the US.

News Topical, Digital Desk : Tensions between the two countries over the India-US trade deal appear to be easing. Top officials said on Wednesday that India and the United States have made significant progress in their ongoing trade agreement negotiations and that the two countries could reach a concrete conclusion soon.

Both negotiating teams remained in constant contact during the final stages of negotiations with the European Union. Trade negotiators were also in contact with their US counterparts. Currently, negotiations are ongoing between the US and India regarding a trade deal. India has submitted its proposals. Now it is up to Washington to move the agreement forward.

The ball is in America's court

According to senior government officials, the true details of the negotiations are known only to the US Trade Representative (USTR) and his team, not to those making public statements. A senior official said that India has delivered what it had to. Now the ball is in America's court. This means that any response will come from the US.

Priority given to bilateral and multilateral agreements

Sources said that as the World Trade Organization's (WTO) MFN-based regime is under pressure, countries are prioritizing bilateral and multilateral agreements with key partners. In this context, India's approach is to ensure greater market access and certainty for exporters and investors through a network of agreements, rather than considering one agreement as a substitute for another.

The government's priority is to promote both countries

NDTV also reported, citing sources, that India does not view exports to the EU and the US as having conflicting objectives. They said the government's priority is to increase exports to both countries, as this ultimately boosts employment and investment in the country.

While sources did not disclose the exact contours of the India-US agreement under consideration, they described the ongoing negotiations on the trade deal as significant and that the talks with the US are close to a breakthrough.

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