India and US near Completion of First Phase Trade Agreement

Indian Commerce and Industry Minister Piyush Goyal said on Monday that nearly 99% of discussions on the proposed Bilateral Trade Agreement between India and the US have been completed. He stated that the two countries are expected to sign the first phase of the agreement very soon, with only a few outstanding issues left to be resolved.

Minister Goyal said discussions will continue from 2nd to 4th June to address the remaining matters before the agreement is formally announced. He also indicated that negotiations on a second phase would continue after the initial pact is concluded. The proposed agreement is expected to cover areas including market access, customs facilitation, non-tariff barriers, investment promotion and supply-chain cooperation.