April 22, 2025
The US is expected to support broader cooperation in trade, technology, and economic development
Both countries are seen as complementary market economies with strategic alignment
Despite existing strong ties, current trade levels fall short of their full potential
Ongoing talks on a Bilateral Trade Agreement (BTA) aim to expand trade and technology cooperation
A senior official from India’s commerce ministry said that the United States will work to enhance and expand its trade, technology, and economic ties with India in a mutually beneficial way. The official noted that India and the US are not only close strategic partners but also have complementary market economies.
According to the official, while trade and economic relations between the two countries run deep, there remains considerable room for growth. The current scale and scope of cooperation have yet to reflect the full potential of their economic partnership.
The two nations are currently negotiating a Bilateral Trade Agreement (BTA), with the goal of more than doubling bilateral trade to US$500 billion by 2030. The agreement is intended to broaden and deepen cooperation in trade, technology, and economic sectors, ultimately delivering greater prosperity for both countries.
Source: Economic Times