New Delhi [India], October 15 : India and the United States are engaged in trade negotiations aimed at reaching a mutually beneficial outcome, government sources said on Wednesday.
An Indian negotiating team is currently in the US for discussions, with talks said to be in a "deeper" phase. "
"The engagement between two sides is going on. Ambassador-designate (Sergio Gor) was in India. He met all stakeholders and had good meetings. Negotiating team from India is in the US. They are trying to see if we can have a win-win solution between the two sides," a government source said.
Sources said there has been export growth to the US and officials noted that around 45 per cent of Indian exports to the US currently face zero tariffs, a trend that could support future trade momentum.
Earlier, sources toldthat the upcoming talks are expected to focus on key market access issues, regulatory cooperation, and expanding trade in energy and technology sectors.
India is also looking at scaling up imports of natural gas and renewable energy technologies from the United States as part of the evolving trade relationship.
The talks for bilateral trade agreement were formally launched in February following directives from leaders of both countries.
The two countries aim to more than double trade volumes from the current USD 191 billion to USD 500 billion by 2030.
Officials had initially targeted completion of the first phase by fall 2025, with five rounds of negotiations already held.
Union Commerce and Industry Minister Piyush Goyal had stated earlier this month that the government is in contact with the United States at various levels regarding the proposed Bilateral Trade Agreement (BTA).
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