India US Trade Deal: Union Commerce and Industry Minister Piyush Goyal on Thursday said India would complete the provisions of its proposed Bilateral Trade Agreement with the United States only after Washington agrees to extend preferential tariff terms compared with those given to India’s competitors. Addressing the National Workshop on “Leveraging FTAs an Outreach Programme” in New Delhi, Goyal said the government would make the final details public “as soon as the US is able to provide us a preferential [rate] in comparison with our competitors.”
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US Says Deal Is Nearly Complete
His remarks come even as US Ambassador to India Sergio Gor has indicated that the agreement is in its final stages and nearly complete in principle. In July, a senior US official had similarly said the drafting was largely finalised, with the ongoing US Section 301 trade investigations cited as the main remaining hurdle.
No Rush on Timelines, Says Minister
Goyal reiterated that India does not negotiate under fixed deadlines, noting that trade talks have historically been shaped by mutual interest rather than time pressure. He pointed to India’s broader trade strategy, highlighting that the country’s nine free trade agreements collectively cover economies worth close to USD 60 trillion in GDP, giving preferential access to nearly two-thirds of global trade. He added that pacts with New Zealand and the European Union are also set to go live soon.
Next Steps: G20 Talks in Milwaukee
India US Trade Deal: The minister is expected to travel to the US in late September to attend the G20 Trade Ministerial in Milwaukee, where he will hold bilateral discussions with US Trade Representative Jamieson Greer. Trade pact issues are likely to feature prominently in those talks, as both sides work toward closing the remaining gaps in the agreement.
