Finance Minister Highlights Economic Gains from Prompt India-US BTA

Finance Minister Nirmala Sitaraman used her appearance at the IMF‑World Bank annual sessions in Bangkok to stress the economic advantages of quickly finalising the India‑United States bilateral trade agreement.

She said the agreement will not only strengthen bilateral trade but also contribute positively to the global trading system. "The negotiations are now at the finish line," she asserted, recalling Commerce Minister Piyush Goyal’s recent optimism about a swift signing.

Even with a volatile international environment, India has managed to maintain a vigorous growth trajectory. "Our growth rate has stayed firm despite numerous challenges. Over the last four‑to‑five years post‑COVID, we have been among the fastest‑growing major economies," she remarked.

Sitaraman attributed success to inclusive development strategies, skill‑upgradation initiatives and disciplined fiscal policies. She warned against indiscriminate public spending, urging a balance between aiding lower‑income groups and maintaining budgetary prudence.

She added that capital expenditure on infrastructure has accelerated project execution and generated a broad multiplier effect throughout the economy.

Goyal has previously announced that the first tranche of the BTA is concluded and the legal draft is under preparation, with the pact set to be activated only when India secures sufficient competitive gains against peer economies.

U.S. Ambassador to India Sergio Gor, speaking at a Bloomberg New Economy Forum in Delhi, confirmed that the detailed framework of the proposed trade pact is ready and both sides are near a final agreement.