India Awaits Preferential Terms from US for Trade Agreement
On Thursday, Union Minister of Commerce and Industry Piyush Goyal stated that India will finalize its Bilateral Trade Agreement (BTA) with the United States only once the US commits to offering tariff benefits that are better than those extended to other countries.
Speaking at the National Workshop on ‘Leveraging FTAs an Outreach Programme’ in New Delhi, Goyal emphasized the need for the US to provide India with a competitive edge. He remarked, “We will complete the BTA and share the final details as soon as the US is able to give us preferential terms compared to our competitors.”
India and the US have been working together on the BTA to enhance market access, reduce trade barriers, and strengthen their economic relationship.
Back in July, a senior US representative indicated that the drafting process of the agreement was nearly complete and it might be signed within three to four months. However, ongoing trade investigations in the US were cited as a significant obstacle to finalizing the deal.
The official noted that the agreement between the two nations was largely settled “on paper,” with any delays being procedural rather than stemming from unresolved issues.
In the meantime, India continues to advocate for tariff arrangements that benefit its exporters, giving them an advantage over competing nations.
