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United States Secretary of the Treasury, Scott Bessent, on Tuesday mentioned that business negotiations with India are ‘transferring smartly’ and said that Prime Minister Narendra Modi and US Vice President JD Vance made ‘excellent growth’ whilst the latter was once in India.
During the click temporary, Bessent mentioned, “US Vice President JD Vance was in India last week. He and PM Modi made some very good progress, so I could see some announcements on India.”
#WATCH | Washington, DC | United States Secretary of the Treasury, Scott Bessent says, “…US Vice President JD Vance was in India last week. He and PM Modi made some very good progress, so I could see some announcements on India…”
(Source: The White House/ YouTube) pic.twitter.com/qRGbE9A8O5
— ANI (@ANI) April 29, 2025
When requested if a tariff deal can occur quickly, Bessent spoke back that the United States and India are very shut on it and the negotiations are ‘transferring smartly’. He mentioned that it’s more uncomplicated to barter with India as in comparison to many different nations.
He mentioned, “We are very close on India, and it is easier to negotiate with India than many other countries because they have very high tariffs… So it is much easier to confront the direct tariffs as we go through these unfair trade deals that have been put in place over decades, but the non-tariff trade barriers can be much more insidious and also harder to detect.”
“So, a country like India, which has posted and ready tariffs, makes it much easier to negotiate with them. So I think the Indian negotiations are moving well,” Bessent endured.
#WATCH | Washington, DC | United States Secretary of the Treasury, Scott Bessent says, “We are very close on India and it is easier to negotiate with India than many other countries because they have very high tariffs…So it is much easier to confront the direct tariffs as we go… pic.twitter.com/wAKNH9YbB4
— ANI (@ANI) April 29, 2025
India-US Bilateral Trade Agreement
India on Tuesday mentioned that the conferences for negotiation of Bilateral Trade Agreement (BTA) with the United States are making ‘certain growth’.
Earlier, PM Modi had visited the United States in February this yr and held a bilateral assembly with US President Donald Trump.
Now, as a part of ongoing BTA discussions, representatives of India’s Department of Commerce and the Office of the United States Trade Representative met in Washington, DC, from April 23 to 25. This follows previous bilateral discussions held in March in New Delhi.
In a commentary, the Ministry of Commerce and Industry mentioned that all over the conferences in Washington, DC, the crew had fruitful discussions on more than a few subjects, together with tariff and non-tariff issues.
“The team discussed the pathway for concluding the first tranche of the mutually beneficial, multi-sector Bilateral Trade Agreement by Fall of 2025, including through opportunities for early mutual wins. While productive Sectoral expert-level engagements have taken place through the virtual format, in-person Sectoral engagements are planned from end May,” the Ministry within the commentary mentioned.
These discussions are a part of bilateral efforts in step with the Leaders’ Statement of February 2025 to fortify and extend India-US financial ties and provide chain integration in the course of the BTA.
(with ANI inputs)
