New Delhi, Nov 17 (IANS) India and the US are “nearing closure” of their talks for signing the first tranche of the proposed Bilateral Trade Agreement (BTA), Commerce Secretary Rajesh Agrawal indicated on Monday.

Agrawal told journalists that the two countries have been holding regular virtual rounds of talks on the BTA. Although no formal deadlines can be set on the issue, the first stage of the trade talks is progressing swiftly, he added.

US President Donald Trump sent positive signals on strengthening U.S.-India relations last week, raising fresh hopes that a bilateral trade agreement between the world’s two largest democracies could be signed soon.

Trump told reporters at the White House on Thursday that his talks with Indian Prime Minister Narendra Modi were “going great” and that

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