According to recent reports, India and the U.S. signed a bilateral advance pricing agreement (APA) on 5 January 2018, which is the first such agreement finalized between the two countries. The U.S. began accepting APA applications involving India in February 2016, which ended a suspension of transfer pricing dispute resolution relations between the two countries in effect since 2013. The recently signed APA is likely the first of many, with India-U.S. bilateral APA applications representing t…