India-U.S. Trade Pact Is 99% Complete, Final Talks Begin

NEW DELHI – India and the United States are scheduled to begin a fresh round of trade negotiations on June 3, with both sides aiming to finalize the first phase of a long-awaited Bilateral Trade Agreement (BTA) that could significantly deepen economic ties between the two countries.

The talks, scheduled through June 4, are expected to focus on finalizing the legal text and resolving the remaining issues in the proposed interim agreement, whose broader framework has already been agreed upon.

Union Commerce and Industry Minister Piyush Goyal said on June 2 that about 99 percent of the negotiations have already been completed, with only a few issues left to be resolved.

“We will very soon announce the signing of the first BTA with the US and continue our conversations on the second phase,” Goyal said.

The negotiations are expected to focus on key areas including market access, non-tariff barriers, customs facilitation, investment promotion and economic security cooperation.

The U.S. delegation will be led by Brendan Lynch, Assistant U.S. Trade Representative for South and Central Asia, while India’s delegation will be headed by Darpan Jain, Additional Secretary in the Department of Commerce.

Officials said most substantive discussions have already concluded and both sides are now working to resolve technical issues before formally announcing the first phase of the agreement. (IANS)