The ToR for the negotiations of the proposed Bilateral Trade Agreement (BTA) between India and the United States has been officially finalised, and the two sides have set the stage for a comprehensive dialogue to strengthen trade ties and settle long-pending issues. It is an announcement by the Office of the United States Trade Representative (USTR), an important step for the bilateral economic relations.
In comments to Reuters, USTR Jamieson Greer said the ToR finalisation outlines a clear roadmap leading to structured negotiations. I welcome India’s constructive engagement so far and look forward to creating more opportunities for workers, farmers, and entrepreneurs of India and the United States,” Greer said. Important to note is that he stressed that the talks are about getting us in balance and in reciprocity, making new markets for the sale and sale of U.S. goods, and dealing with any unfair trade practices that might be hurting U.S. workers.
Ambassador Greer said that while there is a lot of reciprocity that exists in the trade relationship currently with India, there is a ‘serious’ lack of reciprocity, and the upcoming negotiations are aimed at addressing this. Feeling bullish about these new prospects, he said that he hoped the framework would make substantial progress, and nil the trade barriers that have been impeding mutual growth.
This development comes hours after Prime Minister Narendra Modi and his U.S. Vice President JD Vance had wide-ranging discussions in New Delhi, accepting ‘significant progress’ in talks for a mutually beneficial trade agreement. More particularly, Vice President Vance’s visit is notable given that it has been 11 years since Joe Biden visited India in 2013 as US vice president.
The move to continue with BTA negotiations is expected to boost economic cooperation, create jobs, and allow the flow of goods and services between two of the largest democracies in the world.
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