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News Topical, Digital Desk : Commerce and Industry Minister Piyush Goyal on Tuesday said that India and the US are continuously negotiating on the proposed bilateral trade deal and there is every possibility of reaching an agreement before the November deadline for completing the talks.
On the possibility of the next round of trade talks being held in person, he said that every possibility exists, but with the US government currently in shutdown mode, it is difficult to say how, where and when the next round of talks will take place.
Goyal is here on a day-long official visit. He is leading a business delegation and discussing ways to boost trade and investment ties between the two countries. When asked whether the two sides are adhering to the November deadline for concluding the talks, Goyal had led an official delegation to New York last month for trade talks.
The difficulties increased due to the US government being in shutdown mode.
Following that meeting, India and the United States decided to continue negotiations to expedite the conclusion of a mutually beneficial bilateral trade agreement. Both sides held constructive meetings on various aspects of the trade agreement.
In February of this year, the leaders of both countries directed officials to negotiate a proposed Bilateral Trade Agreement (BTA). The first phase of this agreement was planned to be completed by the autumn of 2025 (October-November).
To date, five rounds of negotiations have taken place. The agreement aims to double bilateral trade from the current $191 billion to $500 billion by 2030.
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