The much talked about bilateral trade agreement between the United States and India will be the "mother of all deals", according to Commerce and Industry Minister Piyush Goyal.
"We will soon start discussing a strong, powerful economic engagement, bilateral trade deal with the US. It will be the mother of all deals, and will provide huge opportunities for Indians and Americans to compliment each others' strengths in a turbulent world," he said, while addressing the Invest Kerala Global Summit on Friday.
The Bilateral Trade Agreement is an agreement between India and the United States that was initiated during PM Modi's visit to Washington to meet President Trump.
A major motive of the agreement is to increase India's efforts to double trade with the United States to $500 billion by 2030. It will also cover increasing market access for products and services from both countries, reducing tariff and non-tariff barriers, and deepening supply chain integration.
The first part of the negotiations of the BTA are slated to be completed by the end of 2025, with both sides expected to soon appoint senior representatives to advance negotiations.
Speaking at the NDTV Profit Conclave, Goyal had said that India and the US are exploring mutual concessions and tariff reductions to facilitate smoother trade between the two countries.
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