New Delhi [India] July 15 (ANI): The ongoing bilateral trade talks (BTA) negotiations by India and the United States (US) are progressing as per the decisions of Prime Minister Narendra Modi and US President Donald Trump, said the government officials on Tuesday.

'Our team is back in the US for carrying out the fifth round of negotiations on the bilateral trade agreement, so that agreement is progressing as per the decisions of our leaders and as per the terms of reference decided between the two countries,' the government officials told ANI.

The officials stated, 'We have held our narrative from day one that the joint statement on 13th February 2025, between the leaders, provided that both countries will negotiate a bilateral trade agreement, the first tranche of which will be by fall of 2025 in that quest, we have started trade negotiations.'

The first round of negotiations took place when the US team visited India in the last week of March.

The officials asserted that they had finalised the terms of reference (ToR) thereafter, and the negotiations have been going on. Two rounds of discussions were held during India's visit to the US in April, May, and June.

'Again, the United States team came to India, and we had a fourth round of discussions and negotiations on the bilateral trade agreement,' the officials stated.

Meanwhile, on tariffs, sources stated that while global tariff concerns have been widely discussed, actual implementation remains at the announcement stage, with no new tariffs coming into effect yet, except in the case of China.

As a result, the relative competitive position of Indian exports has not shifted significantly, the sources said.

They further added that despite the uncertainty, India's export performance continues to improve, indicating that government policies are having a positive impact.

However, once differential tariffs are enforced, they may create varying effects across sectors, prompting the government and industry to remain in a wait-and-watch mode for now, the sources further added.

A high-level team from India's Commerce and Industry Ministry is in Washington DC, to take forward crucial negotiations for a Bilateral Trade Agreement (BTA) with the United States. This round of negotiations will continue for four days, an official told ANI on July 14.

Rajesh Aggarwal, Chief Negotiator and Special Secretary of the Commerce Ministry, will join the scheduled discussions on Wednesday.

India and the United States have agreed to expand bilateral trade to reach USD 500 billion by 2030, including through the conclusion of a Bilateral Trade Agreement.

By far, representatives of India's Department of Commerce and the Office of the U.S. Trade Representative have held several rounds of talks to conclude a trade agreement. (ANI)