New Delhi: India and the US are making headway in their negotiations to conclude the first tranche of the proposed Bilateral Trade Agreement (BTA) as a team of Indian officials is likely to leave for Washington, DC this week for further talks on the issue.
“Discussions between the two countries are progressing well,” a government official said.
India has offered to increase imports of oil and gas from the US which will help to offset the trade surplus as well as enable the country to diversify its sources of energy to ensure a reliably supply amid geopolitical uncertainties.
India is also likely to sources more renewable energy technologies from the US as part of the trade package, a step that will help the country fight climate change.
The development comes in the backdrop of the new US ambassador Sergio Gor taking charge in the US embassy is New Delhi.
Gor called on Prime Minister Narendra Modi last week and held discussions on bilateral issues including defence, trade, and technology. The importance of critical minerals to both of the countries was also discussed at the meeting.
“The U.S. values its relationship with India and under the strong leadership of President Donald J. Trump and Prime Minister Modi, I am optimistic about the days ahead for both of our nations. President Trump considers Prime Minister Modi a great and personal friend. In fact, just before I left for New Delhi, they had an incredible phone call and that is something that will continue over the weeks and months ahead,” Gor said.
Earlier a team of US officials visited New Delhi for trade talks in September, which was followed by a trip to Washington by an Indian delegation led by Commerce Minister Piyush Goyal.
During the talks, India offered concessions to the US, which included an offer to import more American defence and energy goods.
On September 16, a US delegation led by Brendan Lynch, Assistant U.S. Trade Representative for South and Central Asia, met Indian trade officials headed by Chief Negotiator Rajesh Agrawal in New Delhi amid the thaw in relations following President Trump’s conciliatory posture.
Lynch’s visit came in the backdrop of heightened expectations of a trade deal following positive messages by US President Donald Trump and Prime Minister Narendra Modi after days of a bitter stalemate.
Trump said on a Truth Social post on September 9, that talks were continuing and “I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries”.
