Union Commerce and Industry Minister Piyush Goyal (file photo)
A big update has come out on the long pending trade deal agreement between India and America. After the visit of the US Foreign Minister to India, discussions regarding the deal intensified. Now the country’s Commerce Minister Piyush Goyal has given a statement on the same. On Monday, the Union Minister said that India and America are close to finalizing the first phase of the proposed Bilateral Trade Agreement (BTA). Goyal said that 99% of the discussions have already been completed. Talks between the two sides will continue from June 2 to 4 to resolve some remaining issues before the formal announcement of the agreement.
Piyush Goyal said that minor issues are being resolved. India will soon announce the signing of the first BTA with America. He also indicated that negotiations will continue for the second phase of the agreement after the completion of the first agreement. Union Minister Goyal’s comments come at a time when a US trade delegation is in New Delhi for another round of talks aimed at finalizing an interim trade agreement and taking forward a comprehensive India-US trade agreement. This statement from the Union Minister on the presence of the American delegation in India has further increased the possibilities of a deal.
The team has come from America
An American team has come to India regarding the trade deal, which will hold talks with Indian officials from today i.e. from June 1 to June 4. The proposed agreement is expected to include issues such as market access, customs facilitation, non-tariff barriers, investment promotion and supply chain cooperation. Both countries are trying to intensify talks in an effort to further strengthen business relations and reduce trade tensions.
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