The BTA negotiations have been launched in March 2025.
“India and the US are negotiating a Bilateral Commerce Settlement which has not been signed as but,” minister of state, commerce and trade ministry, instructed Lok Sabha in a written reply.
In a separate reply, he additionally stated that the final spherical of talks was held from July 14-18 in Washington.
The minister additionally stated that India's free commerce settlement (FTA) with the UK is a contemporary, complete and landmark settlement which seeks to attain deep
financial integration together with commerce liberalisation and tariff concessions.
“The FTA ensures complete market entry for items, throughout all sectors, masking all of India's export pursuits. The FTA seeks to advertise good regulatory practices and improve transparency which are in sync with India's personal concentrate on home reforms to boost the convenience of doing enterprise,” he stated.
Emphasising that the federal government takes care of all of the sensitivities related to the FTA and ensures that India's pursuits are protected, he stated: “Each FTA is exclusive and is predicated on particular dynamics of commerce and is geared toward maximizing advantages for each nations.”
Greater than 99% of Indian exports are anticipated to learn from tariff liberalization beneath the FTA together with improved export alternatives in labour-intensive sectors similar to textiles, leather-based, gems and jewelry, engineering items, auto elements, and chemical substances.
The FTA may even assist providers exports because of commitments throughout commerce in providers similar to IT/ITeS, monetary providers, skilled providers, different enterprise
providers and academic providers.
This settlement will profit Indian farmers, fishermen, staff, MSMEs, startups and innovators,” he stated.
Whereas the India-UK FTA negotiations concluded in Might, the talks with the EU are ongoing. Twelve rounds of negotiations have been held until lately, the final being from July 7-11 at Brussels.
