India Close To Finalising Bilateral Trade Deal With US

Mumbai: India is close to finalising a comprehensive Bilateral Trade Agreement (BTA) with the US, which is expected to facilitate zero-duty imports under the production-linked incentive (PLI) schemes and enhance bilateral trade, targeted to reach $500 billion by 2030, according to a report released on Monday.

As United States Vice President J.D. Vance, accompanied by his family, arrived in India, the report further mentioned that the BTA also opens pathways for high-end US tech imports in defence, clean energy and advanced manufacturing. Despite the global upheaval, India’s consumption-driven economy, demographic dividend, and relatively low export dependency position it favourably, said the report by Asit C. Mehta Investment Interrmediates Ltd (ACMIIL), a Pantomath Group company. With merchandise exports to the US accounting for only 2.1 per cent of India’s GDP, the country is less vulnerable to external shocks compared to other export-heavy economies.The report underscores India’s potential to benefit from supply chain diversification, especially as the US imposes steep tariffs on Chinese imports.