India and the United States are close to finalizing a long-awaited Bilateral Trade Agreement (BTA) aimed at significantly boosting trade between the two nations. After five rounds of negotiations since March 2025 and renewed talks following the imposition of 50% tariffs by the US on Indian goods, both countries are converging on most issues while finalizing the legal language of the agreement. The ambitious deal targets increasing bilateral trade from the current $191 billion to $500 billion by 2030, reflecting strengthened economic ties. Commerce Minister Piyush Goyal led recent discussions, emphasizing fair and equitable terms without rushing the process. The US remains India’s largest merchandise export market, with exports reaching $86.5 billion in FY25. Though some non-tariff barriers remain points for resolution, both sides are hopeful to conclude the deal soon, potentially announcing it at the ASEAN Summit, where Indian Prime Minister Narendra Modi will participate virtually. The agreement serves as a strategic effort to reduce tariffs, enhance trade balance, and foster sustainable economic partnership by the 2025 deadline for the initial phase of the pact.