India-US Target ₹48 Lakh Crore Bilateral Trade Under Proposed Trade Agreement

India and the United States are advancing discussions on a proposed Bilateral Trade Agreement aimed at expanding economic engagement between the 2 countries.  

The proposed framework includes a substantial increase in trade volumes and wider access to business opportunities across sectors. 

Bilateral Trade Target Set at ₹48 Lakh Crore 

According to the Directorate General of Trade Remedies (DGTR), India and the US have set a target of ₹48 lakh crore ($500 billion) in bilateral trade under the proposed agreement. 

The arrangement is expected to provide India with preferential access to the US market. The proposed framework includes tariff reductions for India as part of the broader trade discussions. 

The latest developments follow another round of negotiations held in New Delhi between June 2 and June 4. 

Employment Opportunities Across Multiple Sectors 

The proposed agreement could create opportunities in labour-intensive industries, including textiles and leather. 

The agreement is also expected to improve access to opportunities in digital and advanced technology sectors, which could benefit young professionals and businesses operating in these segments. 

India Continues Trade Diversification Efforts 

India has been expanding its international trade network through multiple free trade agreements in recent years. The country currently has nine major FTAs covering 38 countries. 

Between 2014 and 2026, India signed six free trade agreements. Collectively, FTA account for bilateral trade worth approximately ₹17 lakh crore. 

According to the department, this approach represents a shift towards a broader network of trade partnerships spanning multiple regions and markets. 

Read More: FPI Inflows into FAR Bonds Increase by ₹8,794.743 Crore Following Government Tax Relief! 

Conclusion 

The proposed India-US Bilateral Trade Agreement targets ₹48 lakh crore ($500 billion) in bilateral trade and includes provisions related to tariff reductions and expanded market access between the two countries.   

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