Announcement of India-US trade agreement has boosted biz confidence: Goyal

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Announcement of India-US trade agreement has boosted biz confidence: Goyal - Business Standard

Quick Summary:

During the recent visit of Prime Minister Narendra Modi to Washington, India and the US announced to more than double the two-way commerce to USD 500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multi-sector bilateral trade agreement (BTA) by fall of 2025.

The announcement to negotiate a bilateral trade agreement between India and the US has boosted business confidence in both countries, as it can help further strengthen economic ties by leveraging their competitive strengths, Commerce and Industry Minister Piyush Goyal said on Sunday.

"The Prime Minister has brought back with him an agreement or an understanding to enter into a trade deal by fall of this year.