India, U.S. have finalised terms of reference for proposed bilateral trade agreement: USTR

India and the U.S. finalize terms for Bilateral Trade Agreement negotiations, aiming for balance and reciprocity in trade relations.

India and the U.S. have finalised the terms of reference outlining the roadmap for negotiations of the proposed Bilateral Trade Agreement (BTA), according to a statement issued by the U.S.

U.S. Trade Representative (USTR) Jamieson Greer said that these ongoing talks will help achieve balance and reciprocity by opening new markets for American goods and addressing unfair practices that harm U.S. workers.

"India's constructive engagement so far has been welcomed, and I look forward to creating new opportunities for workers, farmers, and entrepreneurs in both countries," he said in a statement.

"I am pleased to confirm that USTR and India's Ministry of Commerce and Industry have finalised the Terms of Reference to lay down a roadmap for the negotiations on reciprocal trade," Ambassador Greer said.

He claimed that there is a "serious" lack of reciprocity in the trade relationship with India.

India and the U.S. on Monday (April 21, 2025) said that they made "significant progress" in negotiations for a mutually beneficial bilateral trade pact as Prime Minister Narendra Modi and U.S. Vice President J.D. Vance held wide-ranging talks in New Delhi.

Mr. Vance is the first U.S. vice president to visit India in 12 years after Joe Biden visited New Delhi in 2013.