New Delhi, June 6: A “very, very vibrant” first phase of Interim Trade agreement between India and the US is likely by the middle of next month, Commerce Minister Piyush Goyal has said.
His remarks came hours after American President Donald Trump said “India took advantage of the United States” for years but it had been reversed now.
The two countries have been holding talks to firm up a Bilateral Trade Agreement (BTA) and in this connection, work is in progress to finalise an Interim deal.
Just recently, negotiators of the two countries held 3-day talks in New Delhi till June 4 and reported progress.
“I also met with them (the US negotiators), and we are fast moving towards closing all the open ends, and I think sometime by the middle of next month or so, we should be in a position to execute a very, very vibrant first tranche,” Goyal told reporters on the sidelines of an event in Vishakhapatnam.
Hours earlier, Trump told journalists while responding to a question on the ongoing trade negotiations: “For years, India took advantage of the United States. They charged us tremendous tariffs and paid nothing. Now it is the exact reverse, and we are making a lot of money with India.”
He added that “we will get to a deal because I like your Prime Minister a lot. He is a good friend of mine, and we get along well. We have a good relationship.”
The latest developments suggest that both sides are working to bridge remaining differences and move towards an early conclusion of the trade deal, which is expected to provide greater certainty for businesses and strengthen bilateral economic ties. (NVI)
