India and the US are on the same page on the proposed Bilateral Trade Agreement (BTA), with negotiations progressing smoothly and no major differences holding up the talks, Commerce Secretary Rajesh Agrawal said on Monday.
Indicating that both sides are moving closer to finalising the framework agreement, Agrawal said the negotiations were advancing in a positive direction.
"We are progressing well. We don't see any dissension; we don't see any challenge around it. We feel we are moving towards a very positive deal," he said.
His remarks come amid heightened interest in the proposed India-US trade pact and media reports suggesting that India had rejected a quick trade agreement with the US in recent negotiations and was instead holding out for a better deal.
Agrawal said both countries have a shared understanding of the contours of the framework agreement and are aware of each other's expectations.
"Both sides know each other's expectations. Both sides know what is coming in the framework deal and what is beyond the framework deal that is being negotiated," he said.
He added that bilateral trade has been growing steadily, with the US trade deficit with India narrowing as India has stepped up imports of energy products from the US, reflecting the strengthening commercial relationship between the two countries.
On the ongoing Section 301 investigations initiated by the US, Agrawal said India has participated in the consultation process and submitted its views.
"As of now, there are two sets of investigations. India has drawn consultations and given its submissions," he said.