India And the conversation for the proposed bilateral trade agreement between the US is fast. The first face-to-face three-day talks between the main negotiaters of the two countries are scheduled to begin in Washington on 23 April. The US has given India a 90 -day relief from retaliation and it is expected that during this time both countries will reach some consent. Both sides have also finalized the terms of reference (TOR) for the trade agreement.
First phase to complete from September-October
The US and India are trying to meet the first phase of the bilateral trade agreement (BTA) by September-October this year. Under this, both sides can discuss issues such as more market access to limited number of goods and reducing non-fee obstacles. This may prepared the platform for more complex dialogue (such as government procurement and digital trade) in later stages. India has earlier tied up with Australia in this way. India-Australia Economic Cooperation and Trade Agreement came into force on 29 December 2022. Now both countries are interacting on a comprehensive trade agreement by increasing its scope.
There are 19 chapters in TOR
There are about 19 chapters in TOR for the proposed bilateral trade agreement between India and the US. These include issues such as fees, goods, non-fees barriers and customs facilities. An official party in India is going to America next week to give further speed to the talks. Rajesh Aggarwal, the chief negotiator of India, Additional Secretary in the Department of Commerce, will lead the team for the first dialogue of face-to-face between the two countries. Aggarwal was appointed as the next Commerce Secretary on 18 April. He will take over from October 1.
Negotiations will start from 23 April
The Indian official team’s three -day talks with American counterparts in Washington will begin on Wednesday (April 23). The conversation will include issues such as fees, non-fee barriers, rules of origin and regulatory cases. The three-day deliberations are important, as a senior government official earlier stated that the interim trade agreement between India and the US could be finalized during the 90-day fee break declared by the Donald Trump administration.
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