India, April 15 -- India has decided to move forward on trade liberalisation with the United States, commerce secretary Sunil Barthwal said on Tuesday, as both sides signed the terms of reference for the initial phase of a bilateral trade agreement.

In February, India and the US agreed to begin work on the first phase of a trade deal, aiming to conclude it by the end of this year and boost bilateral trade to $500 billion by 2030.

"India has decided to go for a path of trade liberalisation with the US," commerce secretary Sunil Barthwal told reporters.

The two countries will begin virtual discussions on the trade deal this month, with the next round of in-person talks scheduled for mid-May, said Rajesh Agrawal, additional secretary in t...