India Set To Gain Preferential Access To ₹2,850 Lakh Crore US Market

India is expected to get preferential access to the US market under the proposed India-US Bilateral Trade Agreement (BTA). If confirmed, this move could provide a substantial boost to India's exports and strengthen economic ties between the two countries.

An NDTV Profit report quoted Mr Amitabh Kumar, Additional Secretary at the Directorate General of Trade Remedies (DGTR). He said that India will receive preferential opportunities in the US market, which is valued at more than ₹2,850 lakh crore. The agreement also aims to push bilateral trade between the two countries to ₹48 lakh crore ($500 billion).

What Are The Highlights Of This Deal?

The main point of the draft deal is focused on tariff cuts that are likely to make Indian goods more competitive in the US market.

The agriculture sector may be the biggest winner in this regard. Indian agricultural goods may be allowed entry into the US market without tariffs, creating a major export opportunity for one of India's biggest export sectors.

The pact is also likely to give a lift to labour-intensive sectors such as textiles and leather, which may witness a surge in demand from the US market as trade barriers are removed. Besides traditional manufacturing sectors, the agreement would give a shot at opening new avenues in the digital and advanced technology segments.

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India's Global Trade Partnerships So Far

The push for a trade deal also reflects India's broader strategy of diversifying its trade relationships. Officials noted that India has signed six major free trade agreements between 2014 and 2026 and now has nine major FTAs covering 38 countries.

These agreements collectively account for bilateral trade worth around ₹17 lakh crore. This shows that the government has been building a wider network of strategic trade partnerships across global markets.

Sources:

NDTV Profit

CNBCTV18