India and US will hold discussions on the Bilateral Trade Agreement this week. The two countries signed the terms of reference for the first part of the bilateral trade deal. Briefing the media in New Delhi, Commerce and Industry Secretary Sunil Barthwal said that both sides have broadly come to an understanding on the next steps towards a mutually beneficial, multi-sector Bilateral Trade Agreement to finalise its first tranche later this year. He said that in view of the current tariffs imposed by the US, there are both concerns and opportunities for India. He, however, said India has taken a path of trade liberalisation with the United States. The Secretary added that this path will open many opportunities for both countries. Mr Barthwal said India’s trade with the US is expected to grow and reach 500 billion dollars in the next five years.
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