India and the US have finalised the terms of reference outlining the roadmap for negotiations of the proposed Bilateral Trade Agreement (BTA), according to a statement issued by the US. US Trade Representative (USTR) Jamieson Greer said that these ongoing talks will help achieve balance and reciprocity by opening new markets for American goods and addressing unfair practices that harm US workers.

The US said it’s made “significant progress” toward a bilateral trade deal following talks between Vice President JD Vance and Indian Prime Minister Narendra Modi on Monday, laying down a roadmap for further discussions that New Delhi hopes may shield it from additional tariff hikes.

The India-US Bilateral Trade Agreement could set a new standard for India's trade relations, focusing on technology acquisition and economic strength. It aligns with India's self-reliance goals and will enhance market access for both nations,