India-US trade to be 500 billion dollars by 2030 says Commerce and Industry Secretary

The government today said that India’s trade with the United States is expected to grow and reach 500 billion dollars by 2030. Briefing the media in New Delhi, Commerce and Industry Secretary Sunil Barthwal said that there are both concerns and opportunities for India in terms of the current tariffs. However, the country has taken a path of trade liberalisation and is pursuing a bilateral trade agreement with the United States. He added that this path will open many opportunities for both



countries. 

The Secretary also informed that both sides have broadly come to an understanding on the next steps towards a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA), with the goal of finalising its first tranche by fall 2025. He added that both countries will hold discussions on the Bilateral Trade Agreement this week. The two countries will also sign the terms of reference for the first part of the bilateral trade deal.