Indian Commerce Minister Piyush Goyal announced that an interim trade agreement with the US is expected to be signed in March, with implementation anticipated by April.
The trade deal between India and the United States has reached a significant milestone, with updates provided by India's Commerce Minister Piyush Goyal. He indicated that the legal draft of the interim trade agreement is in the final stages, with a crucial three-day meeting scheduled in the US starting February 23. This meeting is aimed at solidifying the legal elements of the agreement, thereby paving the way for formal signing.
Goyal expressed optimism that the signing could occur in March, which would then lead to the implementation of the deal by April. This timeline reflects both countries' commitment to enhancing bilateral trade relations, following the sharing of frameworks and factsheets by representatives from each side. The anticipated trade deal is expected to bring mutual economic benefits, facilitating smoother trade operations between India and the US.
In addition to the India-US deal, Goyal also mentioned ongoing negotiations with other countries, including the UK and Oman, signaling India's broader strategy to strengthen trade ties globally. The proactive approach towards both negotiation and implementation underlines India's aim to boost its economic standing through strategic international partnerships, which could redefine its trade dynamics in the coming years.
