Union commerce minister Piyush Goyal and US trade representative Jamieson Greer concluded multiple rounds of discussions on an interim trade deal, making substantial progress, although no deal has been reached yet.
The two ministers appreciated each other's leadership and the sustained efforts of both negotiating teams in advancing discussions in a constructive and forward-looking manner.
Discussions focused on pathways to conclude an interim agreement as an important milestone toward a comprehensive Bilateral Trade Agreement (BTA), which aims to more than double total bilateral trade to $500 billion by 2030, a goal branded 'Mission 500.'
The only outstanding issue for an interim BTA is the determination of a valid tariff architecture for Indian goods in the American market, as all other issues have been settled in the framework jointly released on February 7.
Once the interim deal is announced, New Delhi and Washington will move to conclude a wide-ranging BTA to achieve Mission 500.
