First phase of India-US trade deal ready; legal review underway
What Happened
Commerce Minister Piyush Goyal said the first tranche of the India-US Bilateral Trade Agreement has been finalised and is undergoing final legal drafting. He said India hopes to operationalise the agreement once it secures a comparable or competitive advantage over peer countries. Commerce Secretary Rajesh Agrawal separately said negotiations were moving in the right direction and the two sides hoped to sign the agreement at the earliest possible time.
Key Takeaways
The agreement has not yet been formally signed, and its detailed legal text has not been made public. US Ambassador to India Sergio Gor said the broader framework and major issues were largely settled, signalling that negotiations have moved closer to completion.