India and the United States of America held meetings earlier this week in the path of inking a Bilateral Trade Agreement(BTA). The Indian delegation was led by the Commerce and Industry Minister Piyush Goyal. United States was represented by Ambassador Jamieson Greer who is the United States Trade Representative and Sergio Gor, US Ambassador designate to India.
The Press Release has reiterated that both the nations held constructive discussions to realize the goal of a fair, reasonable and mutually beneficial trade agreement. Both sides also acknowledged to continue the negotiations and remain engaged for the early realization of the trade deal. “The delegation had constructive meetings with the US Government on various aspects of the deal. Both sides exchanged views on possible contours of the deal and it was decided to continue the engagements with a view to achieve early conclusion of a mutually beneficial trade Agreement,” the statement said.
Commerce Minister Piyush Goyal while addressing the India-US Strategic Partnership Forum in New York also expressed commitment to accelerate the energy partnership with the United States. He said, there will be an increase in the trade with the US especially in terms of the energy purchases. In realizing the energy security goals of India, there will be a considerable US involvement. “Clearly, the world recognises that (energy security) is one area where we all have to work together. India is a big player in the energy field… we are big importers of energy from across the world, including from the US”, Goyal affirmed.
Despite, assuring about the strengthening of trade and energy ties with the United States, Piyush Goyal exclaimed that “weaponization of trade” is not appreciable. Bilateral relations between New Delhi and Washington have hit a stalemate since the Trump administration imposed a massive 50 per cent tariffs on India, which includes 25 per cent additional tariffs for purchasing the Russian oil. Despite these irrational tariffs, New Delhi has been firm on its energy security priorities that are rooted in the goal of securing the national interest of its 1.4 billion people. Without kneeling down to any unreasonable pressure from the US, India is also vigilant of the importance of the strategic ties with the US. In this direction, India is consistently indulging in dialogue and negotiations with the US counterparts, to strike a fair, balanced and mutually beneficial trade agreement.
