External Affairs Minister S Jaishankar has stressed the ongoing "very active and intense discussions" between India and the United States regarding trade, highlighting a commitment to conclude a Bilateral Trade Agreement (BTA) by fall 2025.

This announcement follows recent talks between Indian Prime Minister Narendra Modi and US President Donald Trump, which aimed to address trade barriers and enhance bilateral relations.

Jaishankar noted that the discussions have been productive, particularly in areas such as defence and energy. He remarked on President Trump's openness to building a security partnership and facilitating access to American technology, which he believes will lead to a more substantial defence relationship between the two nations.

The minister also expressed India's interest in increasing imports of liquefied natural gas (LNG) from the US, citing the stability of American supplies as crucial for India's energy needs.

The backdrop of these discussions includes President Trump's plans to impose reciprocal tariffs on countries that maintain high import duties on US goods, including India.

Jaishankar acknowledged that while the US has raised concerns over India's tariffs—specifically in sectors like automobiles—India is prepared to negotiate tariff reductions in certain labour-intensive sectors such as textiles.

India's decision not to join the Regional Comprehensive Economic Partnership (RCEP) was also addressed by Jaishankar, who explained that India sought protections against potential surges in imports that could harm its domestic industries.

He stated that this decision has garnered stronger consensus within India over time.

As both nations work towards finalizing the BTA, they are also focusing on enhancing market access and reducing both tariff and non-tariff barriers.

The goal is to significantly boost bilateral trade, which reached approximately $190 billion in 2023, with an ambitious target of doubling this figure by 2030 under the "Mission 500" initiative set by Modi and Trump earlier this year.

ANI