India and the United States have held 'positive and constructive' discussions on finalizing a bilateral trade agreement, the government said on Friday, following a fresh round of negotiations between the two sides. A delegation from the Office of the United States Trade Representative (USTR) visited India from June 1 to 4 to advance talks on the proposed trade pact.
Positive and Constructive Conversations
'The conversations have been positive and constructive. Both sides reaffirmed their commitment to taking this interim trade and bilateral trade agreement forward,' External Affairs Ministry spokesperson Randhir Jaiswal said at his weekly media briefing, referring to a statement issued by the commerce ministry, as quoted by PTI. The discussions are part of efforts to operationalize the framework for an interim trade agreement announced by India and the US in a joint statement released in February. The proposed pact is aimed at promoting reciprocal and mutually beneficial trade.
Broad Range of Issues Discussed
According to the commerce ministry, the two sides held constructive and positive discussions across a broad range of issues, including trade in goods, non-tariff measures, customs and trade facilitation, economic security alignment, and other areas of mutual interest. The US delegation was led by chief negotiator Brendan Lynch, while India's negotiating team was headed by Darpan Jain, additional secretary in the Department of Commerce.
Progress Towards Finalization
The latest round of talks comes amid signs that the two countries are moving closer to finalizing the agreement. Last week, US Ambassador Sergio Gor said only one percent of issues remain unresolved in the negotiations. This indicates significant progress has been made in bridging differences and reaching a consensus on key trade matters.
The interim trade agreement is expected to serve as a stepping stone toward a more comprehensive bilateral trade deal, enhancing economic cooperation between the world's two largest democracies. Both sides have expressed optimism about the outcome, emphasizing the mutual benefits of strengthened trade ties.
