‘Will finalise trade deal after US gives preferential tariff terms’: India’s clear message to America
NEW DELHI: India will announce the final details of its proposed Bilateral Trade Agreement (BTA) with the US only after Washington agrees to provide preferential tariff terms compared with the country’s competitors, commerce and industry minister Piyush Goyal said on Thursday.“As soon as the US is able to give us the preferential rate in comparison to our competition, we will finalise the BTA and announce the final details,” news agency ANI quoted Piyush Goyal saying.He said this while addressing a national workshop on Leveraging FTAs Outreach program.The India-US Bilateral Trade Agreement (BTA) has been under negotiation with both sides aiming to expand market access, reduce trade barriers and deepen economic ties.A senior US official said in July that the agreement’s text was effectively finalised and could be signed within the next three to four months, with ongoing US Section 301 trade investigations cited as the main remaining hurdle.The official said the two countries had the agreement “on paper” and that the delay was procedural rather than due to unresolved differences between New Delhi and Washington.India, meanwhile, has been seeking tariff terms that give its exporters a comparative advantage over competing countries.
