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India
The United States Trade Representative (USTR) has expressed optimism about the ongoing discussions between India and the U.S. for a Bilateral Trade Agreement (BTA). Jamieson Greer, the U.S. Trade Representative, highlighted that these talks could open up new opportunities for workers, farmers, and entrepreneurs in both countries. The discussions have been fueled by the joint statement made by U.S. Vice President Vance and Indian Prime Minister Narendra Modi, reaffirming their commitment to the India-U.S. COMPACT initiative, aimed at accelerating military partnership, commerce, and technology.
A New Milestone In U.S.-India Relations
Greer praised India’s constructive engagement in the BTA negotiations, noting that the talks would help achieve balance and reciprocity. “These ongoing talks will help achieve balance and reciprocity by opening new markets for American goods and addressing unfair practices that harm American workers,” Greer said. He emphasized that both countries could create substantial opportunities for their citizens by pursuing this agreement, which is expected to foster mutual benefits.
The COMPACT Initiative And The BTA Negotiations
The U.S.-India COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology) initiative, launched during Prime Minister Modi’s visit to Washington in February 2025, focuses on strengthening bilateral cooperation across several sectors. Greer confirmed that the USTR and India’s Ministry of Commerce and Industry had finalized the Terms of Reference (TOR) for the BTA negotiations. This marks a crucial step in advancing the BTA, as the TOR provides a framework for multi-sector negotiations focused on achieving mutually beneficial outcomes.
Addressing Trade Deficits And Tariff Barriers
The announcement comes amid rising concerns about trade barriers and deficits. In 2024, the U.S. recorded a goods trade deficit of USD 45.7 billion with India, a 5.1% rise from 2023. The BTA negotiations aim to lower both tariff and non-tariff barriers, enhancing market access and establishing long-term commitments that benefit both nations. Greer expressed hope that the BTA would help reduce these barriers and promote equitable trade between the two countries.
Looking Ahead: A Step Towards Stronger Trade Relations
The finalization of the TOR for the BTA negotiations reflects a significant move forward in the U.S.-India trade relationship. Both countries are eager to resolve trade imbalances, enhance market access, and establish more stable and reciprocal trade relations. The ongoing discussions suggest that both sides are committed to achieving mutually beneficial trade outcomes that will benefit workers, farmers, and entrepreneurs on both sides.
(With Inputs From ANI)
