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

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 $500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multi-sector bilateral trade agreement by fall of 2025.

During the first term of US President Donald Trump, the two countries had discussed a mini trade deal, but it was shelved by the Joe Biden administration as they were not in favour of such pacts.

Normally in a free trade agreement (FTA), two trading partners either eliminate or significantly reduce customs duties on the maximum number of goods traded between them.

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Article Details

Author / Journalist: Press Trust of India

Category: StartupsEconomyBusiness

Markets: IndiaAustraliaIcelandLiechtensteinNorwaySwitzerlandUnited States

Topics: Trade Agreement Bilateral Billion Fall Minister Services Business Year Commerce India

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-17 @ 06:45:56 (3 days ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 578 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © YourStory

News ID: 26213465

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Main Topics: StartupsEconomyBusiness

Official Website: yourstory.com

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