India and the United States have had a “very open and active discussion” on trade, leading to an agreement between Prime Minister Narendra Modi and US President Donald Trump to finalize a Bilateral Trade Agreement (BTA) by fall this year, according to External Affairs Minister S. Jaishankar.
Speaking at an event in Delhi on Wednesday, Jaishankar highlighted ongoing trade negotiations and recalled Commerce Minister Piyush Goyal’s visit to the US in February. He noted that defense cooperation has seen notable progress, with the US showing greater openness in sharing technology and strengthening security partnerships.
The proposed BTA comes as the US imposes reciprocal tariffs, with Trump criticizing India’s high import duties on American goods, including a 100% tariff on automobiles.
Jaishankar also emphasized India’s interest in expanding LNG imports from the US, citing energy stability as a critical factor for economic growth. Discussions also covered technology collaborations, with both nations recognizing the importance of mobility, trusted supply chains, and partnerships in the BigTech sector.
On India’s decision to stay out of the Regional Comprehensive Economic Partnership (RCEP), Jaishankar stated that India’s concerns over unfair trade practices and the risk of import surges were ignored. The government believed that joining RCEP could negatively impact India’s industrial capacity, making the decision to opt out a strategic move.
As India and the US continue trade talks, active negotiations are underway to finalize the BTA, with both sides aiming for a more balanced and fair economic partnership.
