India-US trade pact: Piyush Goyal explains the one condition to seal the deal

The long proposed India-US bilateral trade agreement will enter its first phase only after Washington restores India's tariff competitiveness against rival exporting nations, Addressing concerns around the much awaited trade pact, commerce and industry minister Piyush Goyal on Wednesday, said that the understanding reached between the two countries was based on India receiving a comparative advantage over competing economies, including neighbouring countries and those in the ASEAN region. Once the condition is met again, the agreement would be ready to come into force.Addressing reporters, Goyal said, "I have categorically and on several occasions expressed the confidence that what we have finalized with the US as the first tranche of the bilateral trade agreement, which was announced by our leaders on 3rd of February, will come into operation as soon as the United States is able to ensure that we get a comparative advantage over our competitors, the countries in our…